EURUSD STILL UNDER PRESSURE BELOW 1.2305 LEVEL
The euro has moved higher against the greenback during today’s European trading session, as the U.S dollar index sheds intraday gains. The EURUSD pair has found strong intraday resistance from the 1.2305 level, with price-action currently trading back around the 1.2290 price-zone. The overall trade-weighted basket of euro currencies remains under selling pressure, with the EURGBP pair falling to three-week trading lows today creating further headwinds for the single currency.
The EURUSD pair remains bearish whilst trading below the 1.2305 level, intraday support is found at the 1.2278 and 1.2257 levels.
- Should the EURUSD pair move strongly above the pivotal 1.2305 level, buyers may test towards 1.2334 and 1.2382 resistance areas.