The euro has fallen back towards key technical support against the US dollar, after the pairs recent rally above the 1.1700 level faded during the European trading session. The EURUSD pair found strong technical resistance from the 1.1719 level, and was sold lower as demand for euro waned about the 1.1700 level. Sellers will now try to break the 1.1674 level, while buyers will try to move price back above the 1.1700 level.
The EURUSD pair is only intraday bearish while trading below the 1.1674 level, key technical support is located at the 1.1628 and 1.1599 levels.
If the EURUSD pair moves back above the 1.1700 level the intraday trend will turn bullish again, and buyers may test towards the 1.1719 and 1.1744 levels.
