The euro is trading above the 1.1800 level against the U.S dollar, as dip buyers continue to support the single currency on pullbacks. The EURUSD fell sharply from 1.1835 level on Monday, only to find support overnight at the pairs weekly pivot point, located at the 1.1777 level. Price-action currently trades close to the weekly price-highs, with the euro underpinned by a strong German IFO reading earlier. Investors now await the U.S Senate to pass the Trump administrations tax reform plan, which is expected during the mid U.S trading session.

The EURUSD remains intraday bullish while trading above the 1.1790 level, buyers may now target towards the 1.1840 and 1.1865 resistance regions.

Should the EURUSD pair start to decline below the 1.1790 level, sellers may target towards the weekly pivot at 1.1770 and the key 1.1750 support level.

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.