The euro currency has a pivotal week ahead against the US dollar, as market participants expect the ECB to announce new monetary policy measures. Technical analysis shows that the EURUSD pair could still rally towards the 1.2280 area before a meaningful top has been formed. To the downside, a breakout below the 1.1950 level should be considered bearish for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.2010 level, key support is found at the 1.1950 and 1.1890 levels.
The EURUSD pair is only bullish while trading above the 1.2010 level, key resistance is found at the 1.2180 and 1.2280 levels.
