EURO MOVES BELOW 1.1800
EURUSD selling has accelerated during the European trading session, with pair moving below the 1.1800 level, hitting 1.1785, as the U.S dollar index pushes higher, adding further pressure on the single currency.
The next risk event for the EURUSD will be later today, where Federal Reserve Chair Janet Yellen delivers a key-note speech at the 59th Annual Meeting, of the National Association for Business Economics.
From a technical perspective, the U.S dollar index is now testing a key metric of overall currency strength, its 200-month moving average. Any break-out above the 92.83 level on the U.S dollar index should accelerate U.S dollar buying.
Key technical support below 1.1800 on the euro is found at 1.1773, 1.1740 and the pairs key 200-week moving average, at 1.1716.
To the upside, key intraday resistance is found at 1.1815 and the recent swing high at 1.1829.
Above the former swing-high, price may further test the 1.1838 and 1.1861 levels.