EURUSD Back to 1.2300

The euro currency is testing towards the 1.2300 level against the US dollar, following a heavy technical rejection from the 1.2340 resistance zone. The recent Democrat party win in Georgia is seen as bearish for the US dollar so the EURUSD could still head higher. A breakout above the 1.2330 resistance level exposes the EURUSD pair to the further upside towards the 1.2400 level.

• The EURUSD pair is only bullish while trading above the 1.2250 level, key resistance is found at the 1.2340 and 1.2400 levels. 

• The EURUSD pair is only bearish while trading below the 1.2250 level, key support is found at the 1.2200 and 1.2130 levels.