EURUSD INTRADAY BULLISH ABOVE 1.1600 LEVEL

The euro currency continues to rise against the US dollar after Federal Reserve Chair Jerome Powell struck a dovish tone towards US inflation expectations at Jackson Hole. The EURUSD pair is only intraday bullish while trading above the 1.1600 level and is further supported by a bullish technical breakout above a well-defined triangle pattern.

• The EURUSD pair is intraday bullish while trading above the 1.1600 level, key resistance is found at the 1.1650 and 1.1681 levels.

• If the EURUSD pair trades below the 1.1600 level, sellers will likely target the 1.1575 and 1.1554 support levels.