The euro currency is holding onto recent gains against the US dollar, following a fairly dovish speech from FED Chair Jerome Powell yesterday. The 1.2130 level is a major pivot point for the EURUSD pair and the current gateway for a rally towards the 1.2200 level. Failure to gain upside traction above the 1.2130 level could result in the EURUSD pair being sold back towards the 1.2060 area.
The EURUSD pair is only bullish while trading above the 1.2100 level, key resistance is found at the 1.2180 and 1.2230 levels.
EURUSD pair is only bearish while trading below the 1.2100 level, key support is found at the 1.2080 and 1.2060 levels.
