EURUSD 1.2130 pivot

The euro currency is holding onto recent gains against the US dollar, following a fairly dovish speech from FED Chair Jerome Powell yesterday. The 1.2130 level is a major pivot point for the EURUSD pair and the current gateway for a rally towards the 1.2200 level. Failure to gain upside traction above the 1.2130 level could result in the EURUSD pair being sold back towards the 1.2060 area.

• The EURUSD pair is only bullish while trading above the 1.2100 level, key resistance is found at the 1.2180 and 1.2230 levels.

• EURUSD pair is only bearish while trading below the 1.2100 level, key support is found at the 1.2080 and 1.2060 levels.