The euro is back under selling pressure against the U.S dollar, after being sharply rejected from its 200-day moving average, at the 1.1670 level. Better than expected U.S jobs figures and a hawkish FOMC policy statement have shifted buyers back into the U.S dollar index. The EURUSD pair currently trades around the 1.1650 level, ahead of the release of key eurozone manufacturing figures for the month of October.
The EURUSD pair remains bearish while trading below the 1.1670 technical level, intraday euro sellers will likely push the euro back towards the 1.1644 and 1.1610 support levels.
Should EURUSD buyers push price-action back above the 1.1670 level, intraday trading sentiment will likely turn bullish. Further upside towards 1.1690 and 1.1713 remains likely.
