The euro has moved above the key 1.1387 resistance level against the US dollar, after finding strong dip-buying interest just above the 1.1350 level on Monday. The EURUSD pair may also be forming a bullish inverted head and shoulders pattern, with a sizeable upside projection. EURUSD trade is also likely to become increasingly cautious ahead of the US mid-term election results.
The EURUSD pair is intraday bullish while trading above the 1.1387 level, key technical resistance is now found at the 1.1431 and 1.1500 levels.
If the EURUSD pair declines below the 1.1387 level, sellers may target the 1.1352 and 1.1300 levels.
The EURUSD pair is intraday bullish while trading above the 1.1387 level, key technical resistance is now found at the 1.1431 and 1.1500 levels.
If the EURUSD pair declines below the 1.1387 level, sellers may target the 1.1352 and 1.1300 levels.
