EURUSD Attempting recovery
The euro currency is attempting to recover against the US dollar, following an extended technical pullback towards the 1.2120 area. Traders that are bullish towards the EURUSD pair may have bought the dip in expectation of the EURUSD rally back towards the 1.2200 level. Technical analysis highlights that the short-term trend in the EURUSD pair will turn bullish above the 1.2180 level.
The EURUSD pair is only bearish while trading below the 1.2180 level, key support is found at the 1.2120 and 1.2060 levels.
The EURUSD pair is only bullish while trading above the 1.2180 level, key resistance is found at the 1.2200 and 1.2220 levels.