EURUSD higher high needed

The euro is trading above the 1.1250 level against the US dollar, with the pair remaining contained in a relatively narrow trading range since last Wednesday. Bulls need to break above the 1.1285 level, to encourage a key technical test of the 1.1310 level. Continued weakness under the 1.1248 level could prompt EURUSD bears to test towards the important 1.1220 support level.

• If the EURUSD pair trades below the 1.1248 level, key support is found at the 1.1220 and 1.1200 levels. 

• If bulls break the 1.1285 level, the EURUSD pair could trade towards the 1.1310 and 1.1355 levels.