EURUSD Watching 1.2080
The euro currency has bounced from the 1.2000 support area against the US dollar, as bulls try to reverse last Friday’s heavy trading losses. EURUSD bulls will only be in full control in the short-term if they can anchor the pair above the technically important 1.2080 level. Sustained gains above the 1.2080 level and the EURUSD pair could quickly rally towards the 1.2160 resistance area.
The EURUSD pair is only bullish while trading above the 1.2080 level, key resistance is found at the 1.2115 and 1.2160 levels.
EURUSD pair is only bearish while trading below the 1.2080 level, key support is found at the 1.2000 and 1.1980 levels.