EURUSD testing key resistance

The euro currency is testing towards key intraday resistance against the US dollar after ECB President Mario Draghi sounded slightly more hawkish than market participants had been expecting. The 1.1290 level is the key resistance level bulls will aim to break if the advance gathers pace. If bulls fail to advance above the 1.1290 level, key support is now located around the 1.1247 level.

• The EURUSD pair bearish while trading below the 1.1290 level, key technical support is found at the 1.1247 and 1.1215 levels.

• If the EURUSD pair trades above the 1.1290 level, buyers may test back towards the 1.1315 and 1.1330 resistance levels.