The euro has found dip buying demand from the key 1.1713 technical level against the U.S dollar in early Tuesday trading. Since the EURUSD hit 1.1807 on Monday morning, the pair had gradually started to slip lower to test towards the key 2015 price-high, found at 1.1713. The fundamental principle of the euro’s fall this week remains intact, with the specter of uncertainty in German politics hanging over the euro currency, with no clear resolution in-sight.
The EURUSD pair remains technically bullish while trading above the 1.1713 technical level. Further intraday upside towards the 1.1755 and 1.1807 level appears possible.
Should the EURUSD pair start to slip below the 1.1713 technical level, further aggressive selling towards the 1.1664 level seems possible.