EURUSD Looking higher
The euro currency looks set for further gains ahead against the US dollar after the pair staged a rally above the 1.2100 level after the ECB monetary policy decision. Technical analysis highlights that the EURUSD pair is currently trading inside a bullish falling price channel. Short-term traders should be aware that rally may be forthcoming towards the 1.2280 area over the coming days.
The EURUSD pair is only bearish while trading below the 1.2050 level, key support is found at the 1.1950 and 1.1890 levels.
The EURUSD pair is only bullish while trading above the 1.2050 level, key resistance is found at the 1.2180 and 1.2280 levels.