The euro is holding firm against the US dollar as the new trading week begins ahead of a critical week for the single currency. Traders are likely to be cautious towards the EURUSD pair this week incase the European Central Bank introduced a new stimulus package on Thursday. Overall, a breakout from the 1.1000 to 1.1110 price range is likely to trigger the next strong EURUSD move.
The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels.
The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.11100 and 1.1160 levels.
