EURUSD 1.2130 key pivot
The euro currency is struggling to sustain the bullish short-term trend against the US dollar, as sellers start to overpower buyers below the 1.2200 level. Technical analysis shows that gains above the 1.2230 level could encourage buyers back into the market. To the downside, sustained weakness below the 1.2130 area is likely to attract technical sellers to take the pair lower.
The EURUSD pair is only bullish while trading above the 1.2190 level, key resistance is found at the 1.2230 and 1.2270 levels.
The EURUSD pair is only bearish while trading below the 1.2190 level, key support is found at the 1.2130 and 1.2050 levels.