EURUSD testing breakout area
The euro is probing towards key intraday resistance against the US dollar as the greenback comes under increasing pressure ahead of Wednesday’s FOMC policy decision. The EURUSD pair could easily advance towards the 1.1410 level if bulls can break trendline resistance. The MACD indicator on the four-hour time continues to indicate that bullish short-term pressures are growing.
The EURUSD pair is strongly bullish while trading above the 1.1360 level, key technical resistance is found at the 1.1410 and 1.1450 levels.
If the EURUSD pair fails around current level, sellers could test towards the 1.1325 and 1.1290 levels.