EURUSD More upside expected
The euro currency appears increasingly bullish against the US dollar, following yesterday’s breakout above the 1.1300 resistance level. If the EURUSD pair can hold above the 1.1300 level traders should expect a coming rally towards the 1.1370 level. Sustained gains above the 1.1370 level could provoke a major technical test of the current 2020 trading high, around the 1.1500 level.
The EURUSD pair is only bearish while trading below the 1.1270 level, key support is found at the 1.1250 and 1.1230 levels.
The EURUSD pair is only bullish while trading above the 1.1270 level, key resistance is found at the 1.1370 and 1.1410 levels