EURUSD NEW HIGH AT 1.1910

The EURUSD pair moved to yet another 2017 trading high, hitting 1.1910 in yesterday's U.S trading session, with price briefly moving above the euros monthly 50 period moving average, at 1.1900.

At present, the pair EURUSD is moving lower, having quickly retraced away from the 1.1910 price high, slipping below the 1.1875 support area, and trading back towards 1.1840-50 price zone.

The upcoming Bank of England interest rate decision and policy statement should cause volatility in the EURGBP cross pair, and the EURUSD may see crossover flows affecting the EURUSD price movement after the decision today.

Key technical support for the EURUSD is found at the H4 time frame, 20 period moving average, at 1.1810. Below the key 1.1800 level, the 200-week average remains critical support at 1.1793, as does the EURUSD 200-hour MA, at 1.1728.

Key technical resistance for the EURUSD is found at the calculated daily pivot point, at 1.1859, with further intraday resistance found at the 2010 swing low, at 1.1875 and the monthly time frame, 50 period MA, at 1.1900.