EURUSD Range break

The euro currency has started the week with a strong short and medium-term bullish bias against the US dollar after the pair performed its highest weekly price of the year. Technical analysis highlights that a rally towards the 1.2200 area if possible while price trades above the 1.1890 level. To the downside, a daily price close below the 1.1890 level could see the EURUSD pair falling towards the 1.1840 level.

• The EURUSD pair is only bearish while trading below the 1.1890 level, key support is found at the 1.1860 and 1.1840 levels.

• The EURUSD pair is only bullish while trading above the 1.1890 level, key resistance is found at the 1.2060 and 1.2200 levels.