EURUSD Attempting to recover
The euro currency is attempting to recover higher against the US dollar, following the release of positive PMI Manufacturing data from Europe. Technical analysis shows that if the EURUSD can close the week candle above the 1.1890 level then a surge in buying activity towards the pair could take place next week. To the downside, sustained losses below the 1.1790 support level could cause the EURUSD pair to fall towards the 1.1730 zone.
The EURUSD pair is only bearish while trading below the 1.1790 level, key support is found at the 1.1760 and 1.1730 levels.
The EURUSD pair is only bullish while trading above the 1.1790 level, key resistance is found at the 1.1890 and 1.1940 levels.