EURUSD recovery still possible

The euro currency continues to hold the 1.0900 support level against, further increasing the chances of a major technical bounce. Bullish MACD price divergence is warning that a correction towards the 1.1060 resistance level could soon take place. A sustained break under the 1.0880 support level would negate any chances of a strong recovery upside in the EURUSD pair.

• The EURUSD pair is only bullish while trading above the 1.0990 level, key resistance is found at the 1.1030 and 1.1060 levels. 

• The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0880 and 1.0840 levels.