EURUSD 1.1940 possible

The euro currency has a positive intraday bias against the US dollar after bulls performed a bullish daily price close above the 1.1890 level. Technical analysis highlights that the EURUSD pair could be preparing to rally towards the 1.1940 area in the short-term. A confirmed breakout above the 1.1940 resistance zone could see the EURUSD pair breaking out towards the 1.2100 area.

• The EURUSD pair is only bearish while trading below the 1.1860 level, key support is found at the 1.1840 and 1.1800 levels.

• The EURUSD pair is only bullish while trading above the 1.1860 level, key resistance is found at the 1.1940 and 1.2000 levels.