The euro continues to trade higher against the US dollar on Tuesday after buyers lifted the pair above the pivotal 1.1250 level. The four-hour time frame shows that a bullish inverted head and shoulders pattern has been ignited, with the overall upside target close to the 1.1320 level. EURUSD sellers will need to move price below the 1.1250 level to negate the bullish intraday outlook.
The EURUSD pair is only bearish while trading below the 1.1250 level, key technical support remains at the 1.1216 and 1.1170 levels.
The EURUSD pair is bullish while trading above the 1.1250 level, key resistance is found at the 1.1290 and 1.1320 resistance levels.
