EURUSD unable to rally
The euro has once again been rejected from the 1.1020 resistance level against the US dollar, as short-term buyers fail to take back control of the pair. A bullish double-bottom is still in place, although the EURUSD pair could break the November if weakness under the 1.1000 level persists. Going forward, a sustained breakout from the 1.0990 to 1.1020 trading range is now needed.
The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0990 and 1.0945 levels.