The euro is attempting to gain bullish momentum against the US dollar, following Friday’s strong recovery above the 1.1150 resistance level. Buyers need to keep price above the 1.1130 level to mount another challenge towards the important 1.1160 resistance area. Overall, the recently created bullish double-bottom pattern and the weaker greenback are helping to boost the recovery.
If the EURUSD pair trades above the 1.1130 level, bulls may test towards the 1.1160 and 1.1190 levels. If the EURUSD pair trades below the 1.1130 level, sellers may test towards the 1.1100 and 1.1080 levels.