EURUSD rejected from 1.1200

The euro has staged a technical pullback against the US dollar, following the pair being heavily rejected from the 1.1200 resistance level. The EURUSD pair still has a strong short-term bullish while trading above the 1.1090 level and should continue to push higher. The sustained breakout above the 1.1155 level has now changed the medium-term EURUSD trend from bearish to bullish.

• The EURUSD pair is only bullish while trading above the 1.1090 level, key resistance is found at the 1.1200 and 1.1260 levels. 

• The EURUSD pair is only bearish while trading below the 1.1090 level, key support is found at the 1.1060 and 1.1030 levels.