The euro currency is still trapped around the 1.1000 level against the US dollar, with bulls repeatedly failing to move the pair away from key technical support. A strong recovery above the 1.1045 level would increase the chances of a potential bounce towards the 1.1120 resistance level. Traders should cautious toward extreme EURUSD sellers if a breakdown below the 1.0980 support level happens.
• The EURUSD pair is only bearish while trading below the 1.1045 level, key support is found at the 1.1000 and 1.0980 levels. • The EURUSD pair is only bullish while trading above the 1.1045 level, key resistance is found at the 1.1065 and 1.1120 levels.