EURO MOVES TOWARDS TECHNICAL RESISTANCE
The EURUSD pair has moved higher towards technical resistance, rising to a current intraday price high of 1.1155. Previously the pair had found euro dip buying demand in the European session around the 1.1120 level, just slightly above the weekly price low.
At present, the pair has slightly retreated from the 1.1155 daily high, with the EURUSD now looking for direction as it trades above and below the key 1.1148 level.
In the short-term, the EURUSD remains bullish, with price trading above the daily pivot point at 1.1140. The 1.1148 level now becomes the key for further intraday gains.
Technical support for the EURUSD is seen at 1.1132 and the monthly pivot point at 1.1118
To the upside, key technical resistance is located at 1.1166 and the weekly pivot point at 1.1208.