EURUSD watching 1.1290 pivot

The euro is attempting to correct above the 1.1300 resistance level against the US dollar, although buying momentum still remains relatively weak. The 1.1330 level still offers the strongest form of technical resistance prior to the key 1.1360 level. Technical indicators continue to turn lower on the four-hour time frame, which suggests that the technical correction higher may soon reverse course.

• The EURUSD pair is only bearish while trading below the 1.1290 level, key technical support is found at the 1.1237 and 1.1170 levels.

• If the EURUSD pair continues to trade above the 1.1290, buyers may test back towards the 1.1330 and 1.1360 resistance levels.