EURUSD Turning Bullish Above 1.2000

EURUSD Turning Bullish Above 1.2000

The euro currency continues to drift higher against the greenback, as the recent weakness in the US dollar index has largely continued throughout today’s European trading session. The EURUSD pair is currently trading around the 1.1985 level, with buyers now looking for a potential break of the key 1.2000 technical level. Moving into the US trading session traders are watching the 92.00 level on the US dollar index, and the key 1.2000 level on the EURUSD.

The EURUSD pair will turn further bullish above the key 1.2000 level, with upside resistance then found at the 1.2031 and 1.2072 level.

If the EURUSD pair fails to move above the 1.2000 level, we may see a move lower back towards the 1.1968 and 1.1932 support levels.

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