EURUSD MAY TEST 1.1431 LEVEL
The euro currency is testing towards the 1.1400 resistance level against the US dollar after sellers failed to break below the key 1.1300 level on Friday. Indicators are now starting to turning higher, hinting that the EURUSD pair may once again test toward the 1.1431 resistance level. Sellers need to break the 1.1340 level while buyers need to move price above the 1.1400 level to build bullish momentum.
The EURUSD pair is strongly bearish while trading below the 1.1400 level, key technical support is found at the 1.1340 and 1.1300 levels.
If the EURUSD pair moves above the 1.1400 level, key intraday resistance is found at the 1.1431 and 1.1480 levels.