The euro currency has started the week with a strong short and medium-term bullish bias against the US dollar after the pair performed its highest weekly price of the year. Technical analysis highlights that a rally towards the 1.2200 area if possible while price trades above the 1.1890 level. To the downside, a daily price close below the 1.1890 level could see the EURUSD pair falling towards the 1.1840 level.
The EURUSD pair is only bearish while trading below the 1.1890 level, key support is found at the 1.1860 and 1.1840 levels.
The EURUSD pair is only bullish while trading above the 1.1890 level, key resistance is found at the 1.2060 and 1.2200 levels.
