The euro is starting to retrace lower against the US dollar after finding strong technical resistance from just above the 1.1350 level. The EURUSD could now stage a major technical test of the 1.1200 technical area before bulls start to take control of the pair again. A breakout above the 1.1350 resistance level could cause the EURUSD pair to surge towards the 1.1500 resistance area.
The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1350 and 1.1420 levels.
The EURUSD pair is bearish while trading below the 1.1170 level, key support is found at the 1.1090 and 1.1060 levels.
