The euro currency is posting strong gains as price action comfortably rose above the 1.1900 level of resistance on Wednesday.
The gains come following consolidation between the 1.1900 and 1.1800 levels over the past few days.
With prices trading above 1.1900 level, this could be tested for support in the near term.
As long as the 1.1900 level holds up, further gains could come. This would mean that the EURUSD will now be open to the 1.2000 level as the next key challenge.
But this bias could change if the euro currency falls below the 1.1900 level. It could lead to a sideways consolidation once again.