EURUSD MOVES BACK TO 1.1400 LEVEL
The euro has moved back inside its former short-term trading range against the US dollar, after a failed upside breakout from the well-defined triangle pattern across the lower time frames. Price is now testing demand around the 1.1400 level, with key support below found at the EURUSD weekly pivot point, at 1.1377. The 1.1430 resistance level is now the major upside hurdle buyers need to clear for further gains towards the 1.1470 level.
The EURUSD pair is only bullish while trading above the 1.1400 level, key technical resistance is found at the 1.1430 and 1.1470 levels.
If the EURUSD pair moves below the 1.1400 level, buyers are likely to test the 1.1377 and 1.1350 support levels.