The EURUSD pair is currently trading back towards the key 1.1754 region, after euro sellers failed to take the pair below the 1.1730 support level during a quiet European trading session.
The monthly BUBA report, from the German Bundesbank, is supporting the euro’s intraday trading sentiment, with the German bank continuing to forecast further bullish growth this fiscal quarter.
The intraday trading sentiment surrounding the EURUSD remains bullish above the 1.1754 level. In the medium term, the pair continues to range trade in a down slopping channel, with a sizeable break-out pending.
Short term resistance is located at the current daily price high, at 1.1769, the 200-week moving average at 1.1783, and the downward channel top adds critical resistance, at 1.1793.
Key intraday support for EURUSD pair is located at the current daily price low, at 1.1730 level, the 1.1713 level, and the former swing low, at 1.1681.
