EURO TURNING BULLISH ABOVE 1.1790 LEVEL
The euro continues to press higher against the U.S dollar, with the pair hitting 1.1803 during the European trading session. The EURUSD is benefiting from U.S dollar index weakness on Monday, as investors remain concerned about persistently weak inflation within the U.S economy. With a lack of macroeconomic data on Monday, traders will be increasingly focused on the key technical areas. The 1.1790 remains key for the euros next directional move, likewise the 93.60 support level is important for the U.S dollar index.
The EURUSD pair is turning intraday bullish above the 1.1790 level, further upside towards the 1.1815 and 1.1860 levels appears possible. The 1.1900 level offers extended weekly resistance.
If the EURUSD pair fails to hold above the 1.1790 level, the 1.1750 technical level remains the most relevant support area for traders.