EURUSD bias

The euro is trading around the 1.1100 level against the US dollar after staging a minor upside reversal from the 1.1080 support level. EURUSD traders are cautious towards being overly long or short in the near-term as the pair faces fundamental risk events this week. Watch out for a breakout from the 1.1060 to 1.1170 price range, as it should decide the next strong directional move.

• 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 1.1060 and 1.1020 levels.