The euro currency is struggling to advance against the US dollar on Wednesday, following the early-week rejection just below the 1.2080 resistance level. A large head and shoulders pattern has also recently formed for the EURUSD pair across the lower time frame. Sustained weakness under the 1.1990 price area is currently required to activate the bearish price pattern.
The EURUSD pair is only bullish while trading above the 1.2080 level, key resistance is found at the 1.2115 and 1.2150 levels.
EURUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.1980 and 1.1940 levels.
