The EURUSD pair has reached a critical juncture, currently testing the 1.1188 resistance level. This price point could prove pivotal for the pair’s near-term direction.
A successful breakout above 1.1188 would signal a resumption of the upward movement that began at 1.1001. Should this occur, traders might see the pair push towards the 1.1250 area. If the bullish momentum continues beyond this point, the next target could be the 1.1300 zone.
However, if the pair fails to breach the 1.1188 resistance, attention will turn to support levels. The initial support to watch is at 1.1130. A drop below this level could lead to a retest of the 1.1100 area. If selling pressure intensifies, the next significant support lies at 1.1068.
As the EURUSD hovers near this crucial resistance, traders should remain alert to potential breakouts or rejections that could shape the pair’s next significant move. The coming sessions may provide valuable clues about the euro’s strength against the dollar in the short term.