The euro currency has risen to a new weekly trading high against the US dollar after key weekly support held firm yesterday. Technical analysis suggests that the EURUSD pair could test towards the 1.1500 level over the medium-term horizon. Traders should note that a break under the 1.1240 level could see the EURUSD pair sold down towards the 1.1150 area.
The EURUSD pair is only bullish while trading above the 1.1240 level, key resistance is found at the 1.1500 and 1.1600 levels.
The EURUSD pair is only bearish while trading below the 1.1240 level, key support is found at the 1.1190 and 1.1150 levels.
