The euro is struggling to build upside traction against the US dollar as buying interest above the 1.2160 resistance area remains extremely limited. The upper Bollinger Band and a key trendline on the daily highlight the strong area of resistance bulls need to break, around 1.2160. Failure to surpass this area could cause a sell-off back towards the 1.2100 level, and possibly the 1.2060 level in the short-term.
The EURUSD pair is only bullish while trading above the 1.2130 level, key resistance is found at the 1.2160 and 1.2200 levels.
EURUSD pair is only bearish while trading below the 1.2130 level, key support is found at the 1.2100 and 1.2060 levels.
