The euro has started to pull back against the US dollar after bulls failed to move past the technically important 1.0850 resistance area. EURUSD buyers and sellers are now likely to battle for short-term control of the pair around the 1.0800 support level. Looking at the medium-term picture daily price closes below the 1.0770 level should be considered extremely bearish for the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.0880 level, key resistance is found at the 1.0940 and 1.0990 level.
The EURUSD pair is only bearish while trading below the 1.0880 level. Key support is found at the 1.0770 and 1.0730 levels.
