EURO BEARS STRUGGLE BELOW 1.1710
During the Asian trading session, the EURUSD pair has recovered towards the 1.1748 level, after euro sellers failed to close the former weekly price-candle below the key 1.1710 level.
Intraday trading sentiment surrounding the EURUSD pair remains bearish, as political wrangling in Catalonia continues, and U.S fundamentals point to one-more rate hike from the Federal Reserve this year.
On Friday, the EURUSD pair bounced strongly from its 100-day moving average, at 1.1670, and continued to find strong buying interest above its 200-week moving average, now found at 1.1695.
Technically, the EURUSD pair remains intraday bearish while trading below its calculated daily pivot point, located at the 1.1765 level.
Key intraday EURUSD resistance is found at the pairs weekly pivot point, at 1.1740 and the 1.1765 level. Further resistance is found at the former swing-high, at 1.1787 and the key 1.1832 level.
To the downside, key EURUSD support is found at the 2015 price-high, at 1.1710 and the pairs key 100-week moving average, currently located at 1.1695. Below the 1.1695 level, further support is found at 1.1670 and 1.1662.