EURUSD pullback possible

The euro has pulled backed from a fresh monthly trading high against the US dollar after the pair found strong resistance from the 1.1086 level. Buyers need to move price above the 1.1160 level to force a major short-term technical breakout in the EURUSD pair. Any near-term technical corrections in the EURUSD pair could easily extend back towards the 1.0940 support level.

• The EURUSD pair is only bearish while trading below the 1.1000 level, key support is found at the 1.0980 and 1.0940 levels. 

• The EURUSD pair is bullish while trading above the 1.1000 level, key resistance is found at the 1.1186 and 1.1130 levels.