The euro currency is creeping higher against the US dollar, although the pace of the pairs recent recovery is starting to slow down. EURUSD bulls face tough resistance from the 1.1160 level, while the 1.1187 level is the major technical area buyers need to breach. Overall, buyers may start to switch to a EURUSD buy positions if we continue to see failure before the 1.1160 level.
The EURUSD pair is only bearish while trading below the 1.1160 level, key support is found at the 1.1100 and 1.1050 levels.
If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1187 and 1.1215 levels.
