EURUSD gaining momentum
The euro currency is continuing to gain upside momentum against the US dollar, as the pair moved past the 1.1150 resistance level. The breakout above the 1.1150 level exposes further gains towards the 1.1220 and possibly the 1.1280 levels. Caution is advised, as EURUSD traders may also start to book profits due to the upcoming European Central Bank policy meeting on Thursday.
The EURUSD pair is only bullish while trading above the 1.1060 level, key resistance is found at the 1.1220 and 1.1280 levels.
The EURUSD pair is only bearish while trading below the 1.1150 level, key support is found at the 1.1100 and 1.1060 levels.