The price movements of the euro currency against the US dollar are likely to be driven by the overall outcome of the Georgia state election in the United States. Technical analysis shows that a breakout above the 1.2310 level could cause the EURUSD pair to surge towards the 1.2400 resistance zone. To the downside, a sustained loss of the 1.2130 level could trigger technical selling down to the 1.2060 level.
The EURUSD pair is only bullish while trading above the 1.2200 level, key resistance is found at the 1.2310 and 1.2400 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.
