EURUSD breakout looms
The euro is trading in a narrow price range against the US dollar in early Tuesday trade as the pair searches for a directional bias. Traders are looking for a breakout from the 1.1085 to 1.1145 level to confirm the next short-term direction move in the EURUSD pair. Overall, upside gains in the EURUSD pair more likely while bulls continue to defend the 1.1100 support level.
The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.1145 and 1.1170 levels.
The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1080 and 1.1060 levels.