EURUSD At a crossroads
The euro currency is awaiting to make a clear directional move against the US dollar, as the pair remains trapped between the 1.2130 and 1.2220 level. A break below the 1.2130 level could cause a major sell-off in the EURUSD pair as it represents the neckline of a large bearish pattern. To the upside, gains above the 1.2200 level could prompt a technical test of the 1.2250 resistance area.
The EURUSD pair is only bullish while trading above the 1.2155 level, key resistance is found at the 1.2200 and 1.2250 levels.
The EURUSD pair is only bearish while trading below the 1.2155 level, key support is found at the 1.2130 and 1.2060 levels.