U.S DOLLAR SELLING PREVAILS
The EURUSD pair has moved back towards the 1.1900 level, as the U.S dollar comes under pressure from risk-off trading sentiment. Earlier, the euro fell to 1.1868, but soon found buying interest, as North Korean fears persist.
During the upcoming U.S trading session, North American markets will return after Labour Day Holiday. Investors will look to the ongoing situation in the Korean peninsula, U.S factory orders and a host of Federal Reserve speakers.
The EURUSD pair is currently trading at its daily pivot point, located at 1.1897, however, the euro remains neutral on an intraday basis, while trading below the 1.1918 level.
Going forward, a break above the 1.1930 level remains the key to further upside, with technical resistance found at 1.1960, 1.1979 and 1.2030-40.
To the downside, key technical support is located at the monthly pivot point, at 1.1884, the Friday spike low, at 1.1850, and the former weekly price low, at 1.1822.