The euro currency continues to hold above the 1.2100 level against the US dollar as traders await news from Italy surrounding former ECB President Draghi. Technical analysis shows that sustained gains above the 1.2140 level could provoke a test of the 1.2185 level. Traders should note that a large bullish reversal pattern will form if the EURUSD pair reaches the 1.2185 level.
The EURUSD pair is only bullish while trading above the 1.2100 level, key resistance is found at the 1.2140 and 1.2185 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.