EURUSD bulls beware
The euro is on the rise against the US dollar on Wednesday, after finding strong dip-buying demand around the 1.1070 support level. Caution is still advised ahead of today’s data releases as the main area of technically support for the EURUSD pair is located just under the 1.1044 level. Overall, the medium-term upside objective for the EURUSD pair is located around the 1.1260 level.
The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1075 and 1.1040 levels.
The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1260 levels.