EURUSD TECHNICAL REJECTION WEIGHS ON THE EURO
The euro is trading back towards the 1.1553 level against the US dollar, after being strongly technically rejected from the 1.1600 level. Buyers need to break above the EURUSD pairs 100-day moving average, at 1.1629, while sellers will attempt a bearish daily close below the 1.1553 level. Traders now look towards the release of the FOMC Meeting Minutes during the US session.
The EURUSD pair is only bullish while trading above the 1.1600 level, key resistance is found at the 1.1629 and 1.1650 levels.
If the EURUSD pair trades below the 1.1553 level, key intraday support is found at the 1.1500 and 1.1470 levels.