The euro currency is starting to look more bullish against the US dollar after attracting dip-buyers around the 1.2055 support region. Lower time frame analysis shows that an important trendline breakout will take place if bulls move the price above the 1.2115 resistance level. The EURUSD pair could easily rally towards the 1.2200 level if bulls are able to overcome this key trendline.
The EURUSD pair is only bullish while trading above the 1.2055 level, key resistance is found at the 1.2115 and 1.2200 levels.
EURUSD pair is only bearish while trading below the 1.2055 level, key support is found at the 1.2030 and 1.1990 levels.
