EURUSD on the rise

The euro currency is testing towards the best levels of the week against the US dollar, as the overall bid-tone towards the pair remains firmly in place. The EURUSD pair is likely to test towards the 1.1120 level, with the 1.1180 level acting as extended weekly resistance. Overall, only a sustained move below the 1.1060 level can negate the bearish outlook towards the EURUSD.

• The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1120 and 1.1180 levels. 

• The EURUSD pair is only bearish while trading below the 1.1060 level, key support is found at the 1.1045 and 1.1020 levels.