EURUSD back above pivot

The euro has moved back above the pivotal 1.1050 level against the US dollar, further highlighting the bullish short-term sentiment towards the pair. The EURUSD pair could soon test back towards the 1.1090 level now that the bid-tone has returned. Overall, the EURUSD pair is likely to advance towards the 1.1160 level if buyers can break through the 1.1110 resistance level.

• The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1110 and 1.1160 levels.

• The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.