The euro currency remains in bullish mode against the US dollar, as the pair continues to set fresh multi-week trading highs. If the EURUSD pair breaks past the 1.2280 level then a further rally towards the 1.2340 resistance level appears increasingly possible. If the EURUSD pair reaches the 1.2340 resistance level then a massive inverted head and shoulders pattern will form.
EURUSD pair is only bearish while trading below the 1.2220 level, key support is found at the 1.2200 and 1.2160 levels.
The EURUSD pair is only bullish while trading above the 1.2220 level, key resistance is found at the 1.2280 and 1.2340 levels.
