EURO INTRADAY BEARISH BELOW 1.1790 LEVEL
The euro has moved lower against the U.S dollar, following strong U.S macroeconomic data and a cautious monetary policy speech from ECB President Mario Draghi. The EURUSD pair currently trades below the key 1.1790 technical level, following the euro making a complete reversal from the 1.1860 level on Thursday. ECB President Mario Draghi talked down medium-term inflation expectations in the eurozone during 2018, which helped push the euro lower. Traders now look to Trade Balance data from the eurozone and Manufacturing data coming out from the United States economy.
The EURUSD pair remains intraday bearish while price-action trades below the 1.1790 level, price-action may find support from the 1.1770 and the 1.1750 technical levels.
Should the EURUSD pair start to move above the 1.1790 level, buyers may again start to target the 1.1813 and 1.1840 resistance levels.