EURO TESTS WEEKLY PIVOT POINT

The EURUSD pair has slipped below the 1.1400 level, after quickly reversing from the 1.1418 level during the European session. The euro also briefly slipped below the weekly pivot point, at 1.1385, hitting an intraday price low of 1.1381.

The single currency pair is currently trading around the 1.1393 level, as traders focus now turns to the U.S session, and the release of the US Labor Market Conditions Index, which is expected to rise for the month of June.

A series of higher time frame price close beneath the weekly pivot point, should accelerate EURUSD selling towards technical support at 1.1367 level, and the calculated monthly pivot at 1.1330.

EURUSD intraday resistance is located at the daily pivot point at 1.1407, the daily price high 1.1418, and the Friday swing high at 1.1440.