EURUSD 1.2000 failure
The euro is attempting to move lower against the US dollar after the pair failed to move above the psychological 1.2000 resistance level. Technical analysis shows that EURUSD needs to break the 1.1960 support level to encourage technical selling towards the 1.1885 level. To the upside, a breakout above the 1.2000 level could encourage technical buying towards the 1.2060 area.
The EURUSD pair is only bearish while trading below the 1.1960 level, key support is found at the 1.1910 and 1.1885 levels.
The EURUSD pair is only bullish while trading above the 1.1960 level, key resistance is found at the 1.2000 and 1.2060 levels.