currency continues to edge higher against the US dollar
in early Tuesday trade, following a breakout above the 1.1250 level. If buyers hold price above the 1.1250 level the EURUSD
pair faces strong weekly technical resistance from the 1.1280 level. Both the Momentum and the MACD
indicators on the four-hour time frame are correcting from oversold conditions.
pair is only intraday bearish
while trading below the 1.1250 level, key technical support remains at the 1.1230 and 1.1216 levels.
If the EURUSD
pair trades above 1.1250 level, key intraday resistance is found at the 1.1280 and 1.1300 levels.