The euro currency is undergoing a technical correction against the US dollar after the pair found strong resistance from the 1.1240 level on Monday. A pullback towards the 1.1100 technical area is still possible if the EURUSD pair breaks under the 1.1170 support level. Failure to hold the pair under the 1.1170 level may see EURUSD buyers return and start to target the 1.1260 resistance area.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1240 and 1.1260 levels.
The EURUSD pair is only bearish while trading below the 1.1170 level, key support is found at the 1.1150 and 1.1100 levels.
