EURUSD Looking higher

The euro currency has a bullish short-term bias against the US dollar, after closing the week above the technically important 1.1840 level once again. Technical ascending shows that the EURUSD pair is trading within a large broadening wedge pattern between the 1.1750 and 1.2050 level. Failure to breach the 1.1750 level could result in a technical test of the former weekly high.

• The EURUSD pair is only bearish while trading below the 1.1840 level, key support is found at the 1.1790 and 1.1750 levels.

•  The EURUSD pair is only bullish while trading above the 1.1840 level, key resistance is found at the 1.1890 and 1.1915 levels.