EURUSD TURNING BEARISH BELOW 1.1166
The EURUSD pair remains subdued below the 1.1166 level, after being sold aggressively in yesterday's U.S session, as hawkish comments on inflation and wages from FOMC vice chairman William Dudley helped boost the U.S dollar.
So far the pair has moved to a weekly trading low of 1.1140, slightly above the former weekly low of 1.1132, with euro dip buying demand still being seen.
Technically the pair remains bearish whilst trading below the key 1.1166 level, with the calculated daily pivot just above at 1.1168.
A clear move above the 1.1166 level should see further upside towards 1.1180 region, with further intraday resistance coming from the key 1.1200 level, and the June 15th former swing high at 1.1228.
To the downside, a move below the former weekly low at 1.1132 should see further losses towards monthly pivot point at 1.1117.
Once clearly trading under the 1.1117 monthly pivot point, support comes from the daily time frame 50 period moving average at 1.1085.
Below the 1.1085 level, the weekly time frame 100 period moving average is the strongest support region, located at 1.0997.