The Euro (EUR) inched higher against the US Dollar (USD) on Wednesday, increasing the price of EURUSD to more than 1.2250 following some key economic events. The technical bias has turned bullish because of a higher high in the recent upside rally. EUR/USD Technical Analysis

As of this writing, the pair is being traded near 1.2278. On the upside, a hurdle may be noted around 1.2300 (a short-term horizontal resistance area as well as psychological number) ahead of 1.2376 (a major horizontal resistance) and then 1.2400 (the psychological number). The technical bias shall remain bullish as long as the 1.0839 support area is intact. Read more: