The euro is trading around the 1.1100 level against the US dollar after staging a minor upside reversal from the 1.1080 support level. EURUSD traders are cautious towards being overly long or short in the near-term as the pair faces fundamental risk events this week. Watch out for a breakout from the 1.1060 to 1.1170 price range, as it should decide the next strong directional move.
The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.1145 and 1.1170 levels.
The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1060 and 1.1020 levels.
