EURO INCREASINGLY TECHNICAL

The EURUSD pair has moved down to test the calculated daily pivot point, at 1.1754, after earlier meeting selling pressure at the euro's 200-week moving average, at 1.1783.

Currently, the pair is trading around the 1.1764 level, and becoming increasingly range bound between the two technical levels, ahead of the release of key U.S inflation data for the month of July.

The EURUSD pair remains bullish on all time frames, a move below the 1.1754 level will negate the euro's intraday bullish outlook.

Key intraday support for the EURUSD is found at the 1.1735 level, and the 2015 price high, at 1.1713. Once trading below the 1.1713 level, the monthly pivot point comes into traders focus, at 1.1665.

Intraday resistance for the EURUSD is found at the 1.1783 level, the H4 time frame, 50 period moving average, at 1.1797.

The 61.8 Fibonacci retracement of this week's price low, to the current yearly price high, is found at the 1.1827 level.