EURUSD watching the range

The euro currency has failed to break above the 1.1100 level against the US dollar, making the pair vulnerable to further short-term selling. The next strong directional move in the EURUSD pair should take place once the 1.1060 to 1.1100 price range is broken. Watch out for a potential decline in the EURUSD pair towards the 1.1020 support region if the 1.1060 level is broken.

• The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.110 and 1.1150 levels. 

• The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1060 and 1.1020 levels.