EURUSD price divergence

The euro currency has rallied to fresh multi-month trading high against the US dollar, with the pair reaching the 1.1225 resistance level. Bearish MACD price divergence on the lower time frames is warning of a possible drop in the EURUSD pair towards the 1.1150 level. Traders may also look to book short-term profits as the European Central Bank policy meeting approaches.

• The EURUSD pair is only bullish while trading above the 1.1150 level, key resistance is found at the 1.1225 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.