The euro currency has broken its recent short-term trading range against the US dollar, setting the stage for further upside towards the 1.2300 resistance zone. The EURUSD pair has broken free from cloud resistance on the Ichimoku indicator and looks to be headed towards the 1.2230 area in the near-term. Trendline analysis is also pointing to the 1.2315 resistance zone as a potential bullish target on the daily time frame.
The EURUSD pair is only bullish while trading above the 1.2160 level, key resistance is found at the 1.2230 and 1.2315 levels.
EURUSD pair is only bearish while trading below the 1.2160 level, key support is found at the 1.2130 and 1.2090 levels.
