At present, EURUSD is encountering resistance at the 1.1188 mark. This level is crucial because if the pair manages to break above it, it would signal a continuation of the upward movement that began at 1.1001. A successful breakout here could lead to further gains, with potential targets reaching the 1.1250 area and beyond. If momentum continues, we might even see the pair aiming for the 1.1300 zone.
On the flip side, it’s important to keep an eye on the support levels as well. The initial support for EURUSD stands at 1.1130. If the price dips below this level, it could trigger a downward movement toward the 1.1100 range, and even test the 1.1068 support level.
In conclusion, the EURUSD is at a crucial juncture. Traders should keep a close watch on the resistance at 1.1188 and the support at 1.1130, as movements around these levels could dictate the next steps for this currency pair.