EURUSD WATCHING 1.1170

The euro currency is holding around the 1.1150 level against the US dollar as the pair refuses to give into early week selling pressure. Continued gains above the 1.1150 resistance level could lead to a technical test of the important 1.1170 level. Multiple daily price closes above the 1.1170 level should trigger the next technical test of a trendline resistance on the daily time frame, around the 1.1200 level.

• The EURUSD pair is only bullish while trading above the 1.1130 level, key resistance is found at the 1.1170 and 1.1200 levels.

• The EURUSD pair is only bearish while trading below the 1.1130 level, key support is found at the 1.1115 and 1.1090 levels.