The euro currency is starting to move higher against the US dollar, as the greenback starts to give back a portion of last Friday’s losses. The 1.1950 level is a potential upside target as it a key former swing low and is former key support turned key resistance. Any break above this area would be very bullish and could lead to the EURUSD pair challenging towards the 1.2000 resistance zone.
The EURUSD pair is only bullish while trading above the 1.1950 level, key resistance is found at the 1.2000 and 1.2030 levels.
EURUSD pair is only bearish while trading below the 1.1950 level, key support is found at the 1.1860 and 1.1800 levels.