The euro currency continues to edge higher against the US dollar in early Tuesday trade, following a breakout above the 1.1250 level. If buyers hold price above the 1.1250 level the EURUSD pair faces strong weekly technical resistance from the 1.1280 level. Both the Momentum and the MACD indicators on the four-hour time frame are correcting from oversold conditions.
The EURUSD pair is only intraday bearish while trading below the 1.1250 level, key technical support remains at the 1.1230 and 1.1216 levels.
If the EURUSD pair trades above 1.1250 level, key intraday resistance is found at the 1.1280 and 1.1300 levels.
