EURUSD 1.1200 SUPPORT

The euro is starting to retrace lower against the US dollar after finding strong technical resistance from just above the 1.1350 level. The EURUSD could now stage a major technical test of the 1.1200 technical area before bulls start to take control of the pair again. A breakout above the 1.1350 resistance level could cause the EURUSD pair to surge towards the 1.1500 resistance area.

• The EURUSD pair is only bullish while trading above the 1.1170 level, key resistance is found at the 1.1350 and 1.1420 levels.

• The EURUSD pair is bearish while trading below the 1.1170 level, key support is found at the 1.1090 and 1.1060 levels.