EURUSD recovery possible
The euro currency is attempting to recover against the US dollar after the pair staged an extended price drop towards the 1.1785 support level. EURUSD bulls now need to anchor price above the 1.1840 resistance level to increase the chances of a coming recovery. A major technical sell-off towards the 1.1700 area could take place if the 1.1790 support level is once again broken.
The EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1790 and 1.1710 levels.
The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1900 and 1.1960 levels.