EURUSD recently reversed down from the powerful resistance level 1.20000 – which is currently being watched by all FX market participants, including the European central bank. The resistance zone near the resistance level 1.20000 is strengthened by the intersecting upper daily Bollinger Band. Given the fact that ECB mentioned that the breakout of 1.2 is not of much concern – EURUSD will most likely try to break above this resistance level 1.2000 in the nearest time – with the next resistance level 1.2100 as the next buy target. In the alternative scenario the pair can correct down to 1.18500.