INTRADAY EURO BUYING EXPECTED ABOVE 1.1644

The euro continues to struggle to find a directional bias against the U.S dollar, with price-action trading in an increasingly tight-range. The EURUSD pair currently trades above the key 1.1644 level, as investors remain cautious, ahead of the release of key high-impact economic data from the U.S economy. During the late U.S session, the Federal Reserve will decide on interest rates, with most economists expecting the FOMC meeting will be a non-event, as the U.S policy makers keep rates on hold.

• Further intraday buying in the EURUSD pair is expected, while price-action holds above the 1.1644 level. Euro buyers will likely move price towards the 1.1670 level, with extended intraday euro resistance found at 1.1713.

• Should the EURUSD fall below the 1.1644 level for an extended period, sellers will likely push the euro back to the 1.1610 and 1.1580 levels.