The euro currency has moved back to the pivotal 1.1790 level against the US dollar, following a sudden decline in the US dollar index. Technical analysis highlights that if the EURUSD pair can anchor price above the 1.1790 level then a rally towards the 1.1840 area is possible. If bulls fail to recover price above the 1.1790 level then the EURUSD pair will likely fall back to test the 1.1740 area.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1840 and 1.1900 levels.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1770 and 1.1740 levels.
