EURO REJECTED AT DAILY PIVOT POINT

The EURUSD pair is again struggling to find buying interest and has moved back towards the 1.1730 level, as the euro was sold around the 1.1762 region, which represents the pairs daily pivot point.

During the upcoming U.S session, the economic calendar remains fairly light, with the EURUSD pair likely to be driven by the risk-off sentiment currently surrounding financial markets.

Looking at the EURUSD downside, the 1.1713 level remains the key weekly support level for the euro.

A move below the 1.1713 level should accelerate euro selling pressure towards July 28th price low, at 1.1671, and the July 27th price low adds further support, at 1.1651.

To the upside, the 1.1762 level is now the key intraday EURUSD resistance point. Above this level, traders will then look to the euro's 200-week moving average, found at the 1.1783 level.