EURUSD still trapped
The euro currency remains trapped around the psychological 1.1000 level against the US dollar as buyers and sellers continue to do battle around key technical support. The 1.1045 resistance level remains the overall near-term upside objective for the EURUSD pair. Overall, traders should be mindful that a bullish rally towards the 1.1120 level could take place if the 1.1000 support level holds.
The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.1000 and 1.0980 levels.
The EURUSD pair is only bullish while trading above the 1.1045 level, key resistance is found at the 1.1065 and 1.1120 levels.