The euro currency is trading at a critical juncture against the US dollar as the near-term recovery in the greenback remains in question. The Parabolic SAR indicator shows that the EURUSD will turn bullish on the four-hour time frame if the pair moves above the 1.1980 level. It is also important that the short-term trend still remains bearish while the EURUSD is capped below the 1.2060 level.
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 1.1950 and 1.1860 levels.