The euro currency has staged a major recovery against the US dollar, following the weaker-than-expected Non-farm Payrolls job report from the United States economy last Friday. The 1.2060 level is going to be the key market pivot for the EURUSD pair this week. Gains above this area could provoke a major rally, while sustained weakness could cause a retest of the 1.2000 handle.
The EURUSD pair is only bearish while trading below the 1.2060 level, key support is found at the 1.2000 and 1.1950 levels.
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.
