The EURUSD pair has rebounded above the 1.1900 handle, after yesterday falling to a ten-day trading low, hitting 1.1838, following the release of much better than expected August U.S inflation data.
Risk-off trading sentiment has also returned to financial markets, following North Korea’s latest missile launch, which is helping to push the U.S dollar index lower.
Later today, the EURUSD pair should find an intraday directional trading bias, following the release of U.S retail sales and industrial production data.
To the upside, EURUSD resistance is located at 1.1938, 1.1957 and the key 1.1979 level. Above 1.1979, further key resistance is found at the weekly pivot point, at 1.1999 and the key 1.2030 Fibonacci level.
To the downside, key EURUSD intraday support is found at the daily pivot point, at 1.1893, and the monthly time frame 50-period moving average, at 1.1870. Below the 1.1870 level, further losses can be seen towards 1.1851 and 1.1823.
