EURUSD Recovery underway

The euro currency is starting to recover against the US dollar after the bounce performed a strong technical bounce from the 1.1730 area. EURUSD bulls need to anchor the pair above the 1.1840 level to encourage a major recovery towards the 1.1900 level. To the downside, daily price closes below the 1.1750 level are currently required to increase technical selling pressure towards the EURUSD pair.

• The EURUSD pair is only bearish while trading below the 1.1780 level, key support is found at the 1.1750 and 1.1730 levels.

•  The EURUSD pair is only bullish while trading above the 1.1780 level, key resistance is found at the 1.1880 and 1.1915 levels.