EURUSD awaiting recovery
The euro is consolidating around the 1.1050 level against the US dollar after being pushed lower by the strong US jobs number last week. The EURUSD pair still remains well-supported on any pullbacks and could rally back towards the 1.1110 level. Overall, a breakout above the 1.1110 level should lead to strong technical buying interest, with the 1.1160 level the upside target.
The EURUSD pair is only bullish while trading above the 1.1075 level, key resistance is found at the 1.1110 and 1.1160 levels.
The EURUSD pair is only bearish while trading below the 1.1075 level, key support is found at the 1.1040 and 1.1020 levels.