EURUSD dip buying prevails
The euro is once again testing key trendline resistance against the US dollar as dip-buyers continue to support the pair on any moves lower. Once above trendline key trendline, EURUSD bulls then need to break through the important 1.1360 technical area. The EURUSD pair could also find additional buying interest if the Federal Reserve is more dovish towards US rate hikes than expected later today.
The EURUSD pair is only bullish while trading above the 1.1345 level, key technical resistance is found at the 1.1360 and 1.1400 levels.
If the EURUSD pair falls below the 1.1325, sellers may test back towards the 1.1290 and 1.1260 support levels.