The euro currency has staged a strong recovery against the US dollar after remaining depressed towards the 1.1900 level for most of the week. The four-hour time frame is showing that if the EURUSD pair can hold above the 1.1980 level then a number of technical indicators will turn bullish. In terms of upside potential, the 1.2040 and 1.2060 levels appear to be the potential near-term targets.
The EURUSD pair is only bullish while trading above the 1.1980 level, key resistance is found at the 1.2040 and 1.2060 levels.
EURUSD pair is only bearish while trading below the 1.1980 level, key support is found at the 1.1890 and 1.1830 levels.