EURO NOW BULLISH ABOVE 1.1790 LEVEL
The euro has moved sharply higher against the U.S dollar, hitting 1.1840, following the FOMC monetary policy decision on Wednesday. The Federal Reserve hiked U.S rates 0.25 basis points as expected, however the greenback reacted negatively to FOMC Members Kashkari and Evans dissenting, and voting to leave rates unchanged. The EURUSD currently trades close to the 1.1830 level, with strong euro dip buying demand seen in the market. Traders now turn their focus to the European Central Bank monetary policy meeting this afternoon.
The EURUSD pair remains intraday bullish while price-action trades above the 1.1790 level, upside resistance is now found at the 1.1860 and the 1.1890 technical levels.
Should the EURUSD pair start to move below the 1.1790 level, intraday sellers may start to target towards the 1.1770 support level.