EURO LOOKING TOWARDS 1.1500

The EURUSD pair has opened the trading week above the key 1.1445 support level, and continues to push for further gains towards the yearly price high, and then above the 1.1500 handle.

After weaker than expected United States inflation and retail sales figures, the U.S dollar suffered major losses across the board. Going forward the greenback may still remain under heavy selling pressure this week, as major downside technical levels have been broken on the U.S dollar index.

The EURUSD pair remains bullish on all time frames and is currently building momentum for further upside above the 1.1500 level.

Key technical EURUSD resistance is found at the 2017 price high, at 1.1489, the psychological 1.1500 level, and the May 4th, 2016 daily price high at 1.1529.

Key intraday EURUSD technical support is found at the weekly pivot point, at 1.1443. Below the weekly pivot, the Friday afternoon pullback low, at 1.1427 offers further downside support, whilst the monthly pivot point remains crucial support, at 1.1385.