EURUSD LOWER DAILY HIGH IN PLACE
The EURUSD pair has created yet another bearish lower price high during the early European trading session, after being strongly rejected from the 1.1774 level, which represents pairs H4 time frame, 100-hour moving average.
Despite the euro's strong rebound from the 1.1661 level, sellers still retain control of the intraday sentiment, with the EURUSD setting lower price low's, and lower price high's.
A weekly price close above the EURUSD 200-week moving average, at 1.1783, should encourage further buying in the pair. A weekly price close below the 1.1713 level, should encourage further selling in the EURUSD.
Intraday support is found at the daily pivot point, at 1.1726, and the 2015 yearly price high, at 1.1713. Below the 1.1700 level, the 1.1661 level remain critical monthly support.
Key technical resistance is found at the daily price high, at 1.1774, and the former swing price high, at 1.1789. The 61.8 Fibonacci retracement of the 1.1661 swing low to the yearly price high, is found at 1.1818.