EURUSD BUYERS IN CONTROL ABOVE WEEKLY PIVOT

The EURUSD continues to push higher on Monday, with the pair currently trading at 1.1225, well above the daily calculated pivot point at 1.1193 and also closing above the calculated weekly pivot point at 1.1216.

Stronger euro sentiment today after Emmanuel Macron's weekend victory, a weaker U.S dollar and cross-currency pair inflows from EURGBP are all pushing the EURUSD higher on Monday.

Technically the EURUSD remains bullish, with the pair trading above all short term moving averages and relevant pivot points.

Near-term resistance located at the H4 timeframe, 50 period moving average at 1.1235, with major intraday resistance located at 1.1257 and the monthly high, the foremost resistance, higher up at 1.1285.

The weekly pivot point remains the key to the EURUSD next directional move, with a series of higher time frame closes below this level needed to change the current bullish bias surrounding the pair.

A loss of 1.1204 will likely provoke further losses towards 1.1181 support and a move to the former weekly low at 1.1166.