EURO UNMOVED BY POSITIVE ECONOMIC DATA

The EURUSD pair has slipped towards the 1.1722 level, despite improving Eurozone inflation data for July, and the Eurozone unemployment rate moving to its lowest level since February 2009, at 9.1 percent.

Although the euro has slipped below the daily pivot point, bullish trading momentum should remain for the EURUSD pair whilst trading comfortably above the 1.1713 level.

Technical traders will be looking closely at the monthly price close on the EURUSD, with the 1.1713 technical level likely to remain in focus as we head into the final trading session of July.

Key intraday support for the EURUSD is found at 1.1713, the H1 time frame 100 period moving average, at 1.1693, and the July 28th price low, at 1.1671.

To the upside, the daily pivot point at 1.1731 is near bye resistance for EURUSD pair, with the 1.1776 and 1.1793 the main resistance areas defending the 1.1800 level.