EURUSD shake out
The euro currency has moved back towards the 1.1100 level against the US dollar as market participants attempt to shake out weak EURUSD buyers. Buyers should continue to return to the EURUSD pair while price holds above the important 1.1080 support level. Overall, watch out for a strong upside rally in the pair back towards the 1.1200 resistance level over the coming weeks.
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.