EURUSD triangle action
The euro currency is trading just below the 1.1200 level against the US dollar, following a strong rebound from the 1.1160 level on Monday. Frustratingly, the trading action for the EURUSD pair is still centered around the triangle pattern on the four-hour time frame. Overall, bulls need to break above the 1.1225 level intraday to secure yet another technical test towards the 1.1248 resistance level.
The EURUSD pair is only bearish while trading below the 1.1180 level, key support is found at the 1.1160 and 1.1135 levels.
If the EURUSD pair trades above the 1.1248 level, bulls may test towards the 1.1290 and 1.1323 levels.