The euro currency has broken to the upside against the US dollar, as the greenback starts to weaken across the board in early week trading. Technical analysis shows that EURUSD pair could rally towards the 1.1900 area if price holds above the 1.1770 level. A bullish inverted head and shoulders pattern is highlighting the 1.1940 level as the exact bullish target for the EURUSD pair.
The EURUSD pair is only bearish while trading below the 1.1770 level, key support is found at the 1.1730 and 1.1690 levels.
The EURUSD pair is only bullish while trading above the 1.1770 level, key resistance is found at the 1.1840 and 1.1900 levels.
