EURUSD 1.1230 pivot

The euro currency appears primed for a major directional move against the US dollar currency, following another strong test of the pivotal 1.1230 level. A sustained loss of the 1.1230 support level could see the EURUSD pair declining back towards the 1.1150 level over the short-term. Technical analysis shows that a bearish head and shoulders pattern is warning of a potential decline towards the 1.1000 level.

• The EURUSD pair is only bullish while trading above the 1.1230 level, key resistance is found at the 1.1270 and 1.1290 levels. 

• The EURUSD pair is only bearish while trading below the 1.1230 level, key support is found at the 1.1155 and 1.1100 levels.