The euro has once again been rejected from the 1.1020 resistance level against the US dollar, as short-term buyers fail to take back control of the pair. A bullish double-bottom is still in place, although the EURUSD pair could break the November if weakness under the 1.1000 level persists. Going forward, a sustained breakout from the 1.0990 to 1.1020 trading range is now needed.
• The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
• The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0990 and 1.0945 levels.
• The EURUSD pair is only bullish while trading above the 1.1020 level, key resistance is found at the 1.1045 and 1.1070 levels.
• The EURUSD pair is only bearish while trading below the 1.1020 level, key support is found at the 1.0990 and 1.0945 levels.
