EURUSD TESTING BREAKOUT POINT

The euro has opened the new trading week with a strong bid tone against the US dollar, with price testing key breakout resistance. A sustained break above the well-defined triangle pattern should support further upside in the EURUSD pair towards the 1.1470 level. Only a move below the 1.1400 support level can negate the bullish intraday sentiment surrounding the EURUSD.

• The EURUSD pair is strongly bullish while trading above the 1.1430 level, key technical resistance is found at the 1.1470 and 1.1500 levels.

• If the EURUSD pair moves below the 1.1400 level, buyers may test the 1.1377 and 1.1350 support levels.