EURUSD TECHNICAL BREAKOUT LOOMS
The euro is trading within a narrow range against the US dollar, as price continues to consolidate inside an ascending triangle pattern. A break above the 1.1400 resistance level exposes further upside towards the 1.1470 level, while a clear breach of the 1.1370 level may provoke a technical test of the 1.1335 support level. The G20 summit and the release of EU inflation data during the European session also remains a key focus of traders and investors.
The EURUSD pair is only bullish while trading above the 1.1400 level, key technical resistance is found at the 1.1470 and 1.1500 levels.
If the EURUSD pair continues to trade below the 1.1370 level, sellers may test the 1.1335 and 1.1300 levels.