EURO MOVES LOWER TO TEST 200 WEEK MA

The euro has slipped lower during the European session, as the greenback gains strength across the board, with price moving towards a technical test of the pairs 200-week moving average, at the 1.1783 level.

At present the EURUSD pair has found intraday support from the 100-hour moving average, and is trading around the 50 percent Fibonacci retracement level of the 2017 yearly price high, to the former weekly price low, at 1.1798.

The EURUSD is now bearish on an intraday basis, but strongly bullish in the medium and long-term.

Key technical resistance is found at the daily pivot, at 1.1806, and the 1.1825 and 1.1848 levels.

To the downside, key technical support for the EURUSD is found at the 200-week moving average, at 1.1783, and the 1.1772 and 1.1755 levels.