EURUSD channel break needed
The euro currency has moved back towards the 1.0900 level against the US dollar after bulls failed to move price above the 1.0980 resistance area last week. EURUSD pair needs to break the 1.0980 level to move out away from a large descending triangle pattern. The daily time frame also shows that EURUSD buyers are attempting to break out from a large triangle pattern.
The EURUSD pair is only bullish while trading above the 1.0930 level, key resistance is found at the 1.0980 and 1.1060 levels.
The EURUSD pair is bearish while trading below the 1.0930 level, key support is found at the 1.0840 and 1.0770 levels.