EURUSD ATTEMPTING TO LIFT FROM KEY SUPPORT
The euro currency is attempting to move away from the key 1.1553 level against the US dollar, after starting the new trading week under bearish pressure. If EURUSD buyers can breach the 1.1570 resistance level, further bullish advancement towards the 1.1600 level appears likely. Technical rejection from current levels opens up the possibility that a bearish head and shoulders pattern may be forming.
The EURUSD pair is only intraday bullish while trading above the 1.1553 level, key technical resistance is found at the 1.1570 and 1.1600 levels.
If EURUSD sellers can move price below the 1.1553 level, key technical support is found at the 1.1530 and 1.1500 levels.