EURUSD BULLS NOW HAVE THE UPPER HAND

The euro is starting to probe the 1.1351 resistance level against the US dollar, after a failed attempt to contain price below the 1.1300 level. A sustained move above the 1.1351 level supports further bullish advancement for the EURUSD pair towards the 1.1400 resistance level. It is also worth noting that price is trading within a bear flag pattern across the four-hour time frame.

• The EURUSD pair is only bullish while trading above the 1.1300 level, key resistance is now found at the 1.1380 and 1.1400 levels.

• If the EURUSD pair trades below the 1.1300 level, key intraday support is now found at the 1.1265 and 1.1216 levels.