EURUSD Direction still down
The euro currency has staged a minor upside bounce against the US dollar, although the pair still remains under technical pressure. The short-term direction for the EURUSD pair is still to the downside while the price trades under the 1.2060 level. According to technical analysis a bearish head and shoulders pattern is pointing towards the 1.1800 level as a potential target.
The EURUSD pair is only bullish while trading above the 1.2060 level, key resistance is found at the 1.2100 and 1.2130 levels.
EURUSD pair is only bearish while trading below the 1.2060 level, key support is found at the 1.2000 and 1.1940 levels.