EURUSD trading back towards 1.1400

The euro currency is trading back towards the 1.1400 level against the US dollar after key trendline support held firm during the European trading session. A sustained break above the 1.1400 level should accelerate EURUSD buying towards the 1.1450 resistance level. As the recovery gathers pace, technical indicators on the lower time frames are attempting to correct higher.

• The EURUSD pair is strongly bullish while trading above the 1.1400 level, key resistance is found at the 1.1437 and 1.1450 levels.

• If the EURUSD pair trades below the 1.1375 level, key support is found at the 1.1335 and 1.1300 levels.