EURUSD TRADES ABOVE 1.1500

The EURUSD pair has soared above the 1.1500 level, hitting a new 2017 price high, at 1.1537, moving to the highest trading level for the euro since the May 3rd, 2016.

The U.S dollar has come under intense selling pressure, as it was confirmed that the Trump administration had failed to pass through a revised U.S healthcare bill in congress, that was set to replace Obamacare.

The EURUSD pair remains strongly bullish on all time frames and has further upside potential towards the 1.1613 level before the upcoming ECB meeting on Thursday.

Further intraday technical resistance is found at the 1.1555 and the 1.1580 levels.

To the downside, technical support for the EURUSD is found at the 1.1510 level, and then the former yearly price high at 1.1489 acts as former resistance now turned support.

The calculated daily pivot point sits some way below the 1.1500 level, and is found at 1.1467.