EURUSD INTRADAY BULLISH ABOVE 1.1616

EURUSD INTRADAY BULLISH ABOVE 1.1616


The euro             continues to advance above the 1.1600 level in early Monday trading, as the US dollar index             remains under heavy selling pressure failing to hold price above the 95.00 level.

The EURUSD             found resistance from the 1.1674 level on Friday, although the pair remains a buy on any dips-lower while trading above the 1.1616 level.

EURUSD             traders now look to the release of key IFO data from the German economy and New Home Sales data from the United States later today.

The EURUSD             pair is intraday bullish while trading above the 1.1616 level, key technical resistance is now located at the 1.1674 and 1.1715 levels.

If the EURUSD             pair falls below the 1.1616 level, key intraday support is found at the 1.1599 and 1.1554 levels.