EURUSD BULLS NEED TO BREAK 1.1839 LEVEL
The euro currency has moved back towards the key 1.1800 level against the US dollar, after the pair found strong dip-buying demand from the 1.1740 level earlier today. The EURUSD pair has pulled back slightly, after finding interim technical resistance from the 1.1808 level. Traders now look towards the release of key CPI Inflation data from the US economy, ahead of tomorrow’s key FOMC Interest Rate Decision.
The EURUSD pair is only intraday bullish while trading above the 1.1800 level. Key resistance is located at the 1.1839 and 1.1875 levels.
If the EURUSD pair moves below the 1.1800 level, sellers will likely push price towards the 1.1770 and 1.1740 support levels.