EURUSD BULLS DEFEND 1.1400 LEVEL

The EURUSD pair is attempting to recover upside momentum above the key 1.1400 level, after suffering two straight days of trading losses.

During the European session will see the release of EU trade balance numbers for the month of May, expectations are for the trade balance to rise to €20.3B from €19.6B. The main event later today will be in the U.S session, as investors look CPI figures from the United States, which should create volatility in the EURUSD.

The EURUSD trades above the weekly pivot point, at 1.1385, however the bearish triple top pattern formation is still in place at 1.1489, 1.1480 and 1.1455.

Key intraday technical EURUSD resistance is found at the calculated daily pivot point, at 1.1435, and then the key historical Fibonacci level, found at 1.1458.

Key intraday technical support for the EURUSD is found at 1.1385, the recent swing price low at 1.1370, and the key 1.1357 level.