EURO HITS 1.1870 AHEAD OF ADP JOB REPORT

The euro moved to a new 2017 trading high during the European session, hitting 1.1868 against the U.S dollar, as overall euro demand continued to push to EURUSD pair ever closer to the 1.20 level.

Going forward the EURUSD pair will look to the ADP jobs report for the next directional move, with the 1.1900 level currently insights. However strong technical resistance is located at the 1.1875 level, which represents the June 2010 swing price low.

Technical support for the EURUSD pair is found at the daily pivot point, at 1.1812, with critical support found at the 200-week moving average, at 1.1793.

Below the 1.1793 level, the H1 time frame 100 period moving average is found at 1.1762, with former resistance now turned support located at 1.1713.

Key technical resistance is found at the June 2010 price low, at 1.1875, with further EURUSD price resistance coming from the monthly time frame, 50 period moving average, at the key 1.1900 level.