The euro has started to correct higher against the greenback, hitting 1.1796, as the US dollar index starts to pull back from overbought conditions. The EURUSD pair currently trades around the 1.1775 level, after finding strong dip-buying demand from the 1.1716 level on Monday. Euro buyers will look for further for further upside above the key 1.1800 level, while sellers will look to hold price below the 1.1716 level to encourage further downside.
The EURUSD pair is only intraday bullish while trading above the 1.1750 level, buyers may test towards the 1.1780 and 1.1800 resistance level.
If the EURUSD pair falls back below the 1.1750 level, sellers will be encouraged to test back towards the 1.1716 level.
