EURUSD SOLD ON BEARISH TRIPLE TOP FORMATION

The EURUSD pair has met strong technical selling pressure, after failing from the 1.1455 level during the European session, creating a bearish triple top pattern formation, across various numerous time frames on the price charts.

At present, the pair trades below the 1.1400 level and has bounced from the weekly pivot point, at 1.1385. The pair has also come under pressure from declining bund yields in the German money markets.

The EURUSD pair remains bearish in the short term, whilst trading beneath the calculated daily pivot point, found at 1.1431.

The single currency is also now coming closer to turning bearish in the medium term. The weekly pivot point, at 1.1385 will define the euros medium term trading status.

To the downside, technical support is found at 1.1357 and the calculated monthly pivot point, at 1.1330.

Intraday EURUSD resistance comes in at 1.1418, 1.1430 and the current daily price high, at 1.1455.