EURUSD approaching corrective target
The euro has continued to advance against the US dollar during the European trading session, with the pair approaching its initial corrective target. If buyers force price above the 1.1290 level, further upside towards the 1.1325 resistance level still remain possible. The MACD indicator on the four-hour time frame is also showing that the upside correction in the EURUSD pair is still underway.
The EURUSD pair is intraday bullish while trading above the 1.1230 level, key technical resistance is found at the 1.1290 and 1.1325 levels.
If the EURUSD pair fails around the 1.1290 level, sellers may test back towards the 1.1260 and 1.1230 levels.