EURUSD 1.2080 Now Key

The euro currency remains under pressure against the US dollar, after stage a huge reversal back under the 1.2100 support level. The four-hour time frame shows that the EURUSD pair is testing towards the bottom of a rising price channel, around the 1.2080 level. The Parabolic SAR indicator on the four-hour time frame highlights that the four-hour trend is bearish below the 1.2140 level.

The EURUSD pair is only bullish while trading above the 1.2140 level, key resistance is found at the 1.2180 and 1.2200 levels.

EURUSD pair is only bearish while trading below the 1.2140 level, key support is found at the 1.2080 and 1.2030 levels.

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