The euro currency is gaining upside traction against the US dollar as traders move into riskier currencies amidst improving market sentiment. A notable breaking from a falling triangle pattern is unfolding, with the EURUSD pair working through Ichimoku cloud resistance. EURUSD bulls need to break above the 1.2200 price zone to break from Ichimoku cloud resistance on the daily time frame.
The EURUSD pair is only bullish while trading above the 1.2100 level, key resistance is found at the 1.2200 and 1.2325 levels.
EURUSD pair is only bearish while trading below the 1.2100 level, key support is found at the 1.2060 and 1.1980 levels.
