The euro has moved higher against the US dollar during the European trading session after buyers moved in from the 1.1200 support level. Bulls now need the break above the current weekly trading high to spark the next major EURUSD rally. Technical indicators on the four-hour and daily time frame show that the EURUSD pair has yet to reach oversold conditions.
The EURUSD pair is only bearish while trading below the 1.1187 level, key support is found at the 1.1160 and 1.1135 levels.
If the EURUSD pair trades above the 1.1238 level, bulls may test towards the 1.1290 and 1.1323 levels.
