The euro currency in on the rise against the US dollar as traders continue to sell the greenback after the US Federal Reserve announced an aggressive bond buying scheme. The EURUSD pair could start to target the 1.1000 resistance level if bulls gain traction above the 1.0930 level. Only weakness below the 1.0780 level would negate the short-term bullish bias surrounding the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.0780 level, key resistance is found at the 1.1000 and 1.1130 levels.
The EURUSD pair is bearish while trading below the 1.0780 level, key support is found at the 1.0700 and 1.0650 levels.
