The euro currency still remains bullish against the US dollar, despite finding strong technical resistance around the 1.2250 area yesterday. The one-hour time frame is showing that a large inverted head and shoulders price pattern remains valid while the EURUSD pair trades above the 1.2215 level. EURUSD bulls may use any pullbacks towards the 1.2215 level in expectation of more gains.
EURUSD pair is only bearish while trading below the 1.2215 level, key support is found at the 1.2185 and 1.2160 levels.
The EURUSD pair is only bullish while trading above the 1.2215 level, key resistance is found at the 1.2255 and 1.2280 levels.
