EURUSD trendline bounce

The euro has continued to gain strength above the 1.1000 level against the US dollar after bouncing from major long-term support. The daily time frame showed that the EURUSD pair bounced from trendline support from a falling price channel, just above the 1.0900 level. The 1.1050 level is the next major obstacle for the EURUSD, should bulls continue to rally the EURUSD pair.

• If the EURUSD pair trades above the 1.1000 level, bulls may test back towards the 1.1050 and 1.1080 levels.

•  The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0960 and 1.0920 levels.