EURUSD BEARS NEED TO DEFEND 1.1300 LEVEL
The euro has recovered back towards the 1.1300 resistance level against the US dollar over-optimism that the United Kingdom and the European Union are close to securing a Brexit deal. EURUSD sellers need to keep the price below the 1.1300 level to maintain the bearish pressure placed on the pair earlier this week. If bulls hold price above the 1.1300 level, we are likely to see a strong technical rebound towards the 1.1450 resistance level.
The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is now found at the 1.1380 and 1.1450 levels.
If the EURUSD pair trades below the 1.1300 level, key intraday support is found at the 1.1250 and 1.1216 levels.