EURUSD testing 1.1250 resistance

The euro currency has corrected higher against the US dollar during the European trading session, as the greenback comes under selling pressure across the board. The 1.1250 resistance level is the major technical barrier bulls need to break to further accelerate gains towards the 1.1290 level. The MACD indicator on the four-hour time frame is showing that the EURUSD pair can correct even higher.

• The EURUSD pair is bullish while trading above the 1.1290 level, key technical resistance is found at the 1.1310 and 1.1360 levels.

• If the EURUSD pair trades below the 1.1250 level, sellers may test back towards the 1.1216 and 1.1170 support levels.