The euro currency is looking bullish at the start of the week against the US dollar, following last Friday’s strong recovery from the 1.2130 price area. It is noteworthy that bearish MACD price divergence has now been reversed, and the EURUSD pair could be set to rally. Sustained gains above the 1.2160 level this week could provide a signal that the EURUSD is headed towards the 1.2300 area.
EURUSD pair is only bearish while trading below the 1.2160 level, key support is found at the 1.2130 and 1.2100 levels.
The EURUSD pair is only bullish while trading above the 1.2160 level, key resistance is found at the 1.2260 and 1.2330 levels.
