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EURUSD Finally Breaks Past 1.1000 Level

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The euro is trading above the 1.1000 level for the first time in two months.

The gains came about on the Eurozone stimulus.

The current gains will now see the upside rising towards 1.1132 where there is a strong chance of resistance to form.

In the near term, watch for a potential pullback to the current gains.

Forming support near 1.1000 will potentially validate the upside bias.

But for the moment, the price level near 1.1000 remains vulnerable.

A close below this level once again will put EURUSD back into its old sideways range.

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Source: https://www.orbex.com/blog/en/2020/05/eurusd-breaks-past-1-1000-level
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