EURUSD RANGE BOUND AFTER HITTING RESISTANCE

The euro is trading in a tight range against the US dollar after the price was strongly rejected from the 1.1770 resistance area during the European trading session. Traders are now focusing on a break of the 1.1720 to 1.1770 price range, with EURUSD bulls still retaining the upper hand in the short-term while price trades above the 1.1730 support level.

• The EURUSD pair is only intraday bullish while trading above the 1.1730 level, key resistance remains at the 1.1770 and 1.1812 levels.

• If the EURUSD pair moves below the 1.1730 level, key support is then found at 1.1700 and 1.1650 levels.