EURUSD HITS 1.1775

Following a more dovish than expected Federal Reserve policy statement, the U.S dollar has come under intense selling pressure, moving the euro currency to new 2017 trading highs against the greenback.

During the Asian trading session, the EURUSD pair has continued to climb higher, hitting 1.1775, with the price now slightly retreating back towards the 1.1750 region ahead of the European market open.

The EURUSD pair remains strongly bullish on all time frames, after breaking above the 2015 trading high, at 1.1713. Price is now starting to target towards the 200 week moving average, located at 1.1803.

Key intraday resistance for the EURUSD pair is located at 1.1775, the 1.1803 level, and the monthly time frame 50 period moving average, at 1.1930.

To the downside, intraday EURUSD support is found at the 1.1740 level, with critical downside support, now located at 1.1713.

Below the 1.1713 level, the daily pivot point adds further support for the euro, at 1.1703.