EUR/USD technical analysis: Under pressure, 1.1184 is key resistance

• Breakout in EUR/USD remains elusive despite Friday’s bullish candle.  
• A close above 1.1184 is needed to confirm an inverse head-and-shoulders breakout.  

EUR/USD is reporting marginal losses at press time, marking a weak follow-through to Friday’s bullish candle.  

The pair is currently trading at 1.1163, representing a marginal loss on the day.  

The currency pair formed a green candle with a long lower shadow on Friday, signaling dip demand near 1.1128. Essentially, the day had begun with pessimism but ended on a positive note.  

So far, however, Friday’s bullish candle has failed to draw bids for the common currency.  

Also, the resistance at 1.1184 is the level to beat for the bulls. A close above that would confirm an inverse head-and-shoulders breakout, as per the daily chart, and create room for a rally to 1.1489 (target as per the measured move method).  

Daily chart

Trend: Bullish above 1.1184

Technical levels