The euro currency has incurred another rejection from the 1.2300 resistance level against the US dollar, following the release of solid Manufacturing data from the US economy. If bulls fall to move the EURUSD past the 1.2300 level, then sellers could move the pair back towards the 1.2130 support area. Overall, United States political events are likely to determine the direction of the EURUSD pair and US dollar this week.
The EURUSD pair is only bullish while trading above the 1.2200 level, key resistance is found at the 1.2300 and 1.2330 levels.
The EURUSD pair is only bearish while trading below the 1.2200 level, key support is found at the 1.2130 and 1.2060 levels.
