EURO REJECTED AT 1.1400
The EURUSD has been rejected just below the 1.1400 level during the European session, as the pair remains contained to an eighteen pip daily trading range, in market liquidity conditions, ahead of Janet Yellen's testimony on Capitol Hill tomorrow.
Moving into the U.S session, the economic calendar is fairly light, with JOLTS jobs opening data, and key speeches from Federal Reserve member Lael Brainard, and European Central Bank Executive Board member Benoit Coeure.
The EURUSD remains bullish in the medium term whilst trading above the monthly pivot point, at 1.1330. However, the pair is bearish in the short term, whilst trading beneath the daily pivot point, at 1.1399.
Key technical resistance for the EURUSD is found at the current weekly price high at 1.1418, then the 1.1445 level, which is the 2017 yearly price high.
To the downside, support is found at the weekly pivot point, at 1.1385. Below the 1.1385 level, the 61.8% Fibonacci retracement of the previous week's price range, offers support at 1.1361. Below 1.1361, the calculated monthly pivot point offers critical support, at 1.1331.