EURUSD bullish above 1.1780

The euro currency has recovered higher against the US dollar currency, following a quick drop below the 1.1800 support level yesterday. A breakout above the 1.1840 level could cause the EURUSD pair to rally towards the 1.1800, and possibly the 1.1900 level. To the downside, a sustained breakout under the 1.1780 level could cause a major decline in the EURUSD pair towards the 1.1685 level.

• The EURUSD pair is only bearish while trading below the 1.1780 level, key support is found at the 1.1730 and 1.1685 levels.

•  The EURUSD pair is only bullish while trading above the 1.1780 level, key resistance is found at the 1.1840 and 1.1880 levels.