EURUSD 1.1550 key for further upside
The euro has surged higher against the US dollar, following the release of a more dovish than expected Meeting Minutes from the Federal Open Market Committee. The 1.1550 level is now the key area to watch for further upside in the EURUSD, with bulls needing to hold price above this area for further gains towards the 1.1600 level. To the downside, EURUSD bears need to hold price below the 1.1490 support level to encourage technical selling.
The EURUSD pair is strongly bullish while trading above the 1.1550 level, key technical resistance is found at the 1.1600 and 1.1630 levels.
If the EURUSD pair trades below the 1.1490 level, sellers may test towards the 1.1460 and 1.1430 support levels.