The euro currency has tested below the 1.2000 level against the greenback, following a major technical breakout in the US dollar index. The move lower in the EURUSD pair is primarily being driven by optimism over the United States economic outlook. From a technical perspective, a bearish head and shoulders pattern shows that the EURUSD pair may target the 1.1860 level.
The EURUSD pair is only bullish while trading above the 1.2060 level, key resistance is found at the 1.2100 and 1.2130 levels.
EURUSD pair is only bearish while trading below the 1.2060 level, key support is found at the 1.1980 and 1.1940 levels.
