The euro currency is testing towards the 1.1200 level against the US dolllar, following a bullish weekly price close above the pairs 200-day moving average. A breakout above the 1.1200 level exposes a potential test of the 1.1300 resistance level this week. Failure to surpass the important 1.1200 resistance level could push the EURUSD pair back towards the 1.1100 support level.
- The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1200 and 1.1260 levels.
- The EURUSD pair is only bearish while trading below the 1.1150 level, key support is found at the 1.1130 and 1.1110 levels.
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