EURUSD HOLDING THE 1.1100 LEVEL
The EURUSD pair is currently holding above the 1.1100 area, after briefly slipping under the 1.1100 level and falling to 1.1075 in the late U.S trading session yesterday.
Market moving economic data for the euro currency is fairly light today, with ECB members Constancio and Praet speaking in the European session. Traders will be listening for any comments from the European Central Bank on the future possible direction of monetary policy.
Short term indicators suggest the pair is neutral, with a bullish bias above 1.1110. Near term resistance for the pair is located at 1.1130, with 1.1100 acting as the next area support.
Medium term indicators suggest the 1.1110 area is a crucial daily pivot point for the EURUSD pair, with upside resistance located 1.1130 and 1.1149.
Below the 1.1110 pivot point medium term support comes in at 1.1066 and 1.1025.