EURO TURNING BEARISH BELOW 1.1713

The EURUSD pair has fallen sharply, after breaking below channel support, at 1.1790. So far, the euro has traded as low as 1.1745, as the U.S dollar index continues to strengthen against a basket of top-tier currencies.

Going forward, the EURUSD risks further intraday selling pressure towards the key 1.1713 level, with losses likely to extend, should price close below this key support level on a higher-time frame basis.

The EURUSD pair is currently bearish on an intraday basis, with the medium-term trading sentiment surrounding the pair bullish, whilst trading above the 1.1661 level.

Key intraday technical support for the EURUSD below the 1.1745 level, is located at 1.1730, 1.1713 and the 1.1680 level.

Short-term technical resistance for the EURUSD pair is found at the 1.1755 and 1.1770 levels, with the euro's crucial 200-week moving average located at 1.1783.