EURO CONTINUES TO MOVE HIGHER

The EURUSD pair has continued to hold onto strong weekly gains and move higher, passing 1.1435, to print yet another 2017 high for the single currency, at 1.1445.

During the European session we have a series of high impact economic data releases for the eurozone, which may cause volatility in the EURUSD pair.

German unemployment figures are released for the month of June, and then we have the first reading of June inflation figures for the eurozone.

The EURUSD pair remains bullish on all time frames, with the pair exhibiting a bullish inverse head and shoulder pattern on lower time frame price charts.

To the upside, resistance is located at 1.1458, and above this level, the psychological 1.1500 level starts to comes into focus for EURUSD traders.

Support for the euro is located at the daily pivot point at 1.1425, and below the 1.1400 level, the recent swing price low offers further intraday support at 1.1386.