The euro currency is back in recovery move against the US dollar, following last Friday’s strong price reversal from the 1.2100 support zone. The EURUSD pair needs to hold above the pivotal 1.2160 level to encouraged bulls to test towards the 1.2200 or even the 1.2225 area. Failure to hold the EURUSD pair above the 1.2160 level and sellers are likely to test back towards the 1.2130 support zone.
EURUSD pair is only bearish while trading below the 1.2160 level, key support is found at the 1.2130 and 1.2100 levels.
The EURUSD pair is only bullish while trading above the 1.2160 level, key resistance is found at the 1.2200 and 1.2225 levels.