EURUSD Approaching overbought
The euro currency is struggling to gain fresh upside momentum against the US dollar, despite November impressive monthly price close. Traders may be cautious towards the pair as a number of technical indicators are showing that the EURUSD pair is approaching overbought conditions. Lower time frame analysis loss of the 1.1940 level could cause the EURUSD pair to fall back towards the 1.1840 regions.
The EURUSD pair is only bearish while trading below the 1.1940 level, key support is found at the 1.1900 and 1.1840 levels.
The EURUSD pair is only bullish while trading above the 1.1940 level, key resistance is found at the 1.2000 and 1.2060 levels.