The euro currency is attempting to move back towards the 1.2270 level against the US dollar, after dip buyers stepped back in around the 1.2240 level. The main battle today is likely to be around the technically important 1.2270 to 1.2280 resistance area. Failure to overcome this strong resistance zone could cause the EURUSD pair to reverse back towards the 1.2200 support area.
The EURUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2177 and 1.2090 levels.
The EURUSD pair is only bullish while trading above the 1.2200 level, key resistance is found at the 1.2280 and 1.2330 levels.
