EURO FALLS ON REPORTS OF ECB WORRIES
The EURUSD pair has fallen to an intraday low of 1.1844, after reports surfaced that a number of European Central Bank policymakers are growing increasingly concerned about the recent strength on the euro currency.
During the European session, the EURUSD pair advanced towards the 1.1905 level, but soon found strong intraday resistance from the euro's monthly time-frame 50 period moving average.
The EURUSD pair now trades below both daily and weekly pivot points, with price now risking further losses towards the 200-week moving average, located at 1.1762.
Key technical support below the 1.1865 level is found at, the 21st August price high, at 1.1829, and the H4 time frame, 100-period moving average, at 1.1812.
To the upside, key intraday EURUSD resistance is found at the 1.1865 and 1.1905 level, with the daily pivot point located at the 1.1920 level.