EURUSD on the advance

The euro has moved away from the 1.1000 level against the US dollar as dip-buying prevails following the formation of a potential bullish lower weekly trading high. The EURUSD pair may start to target the 1.1090 technical level ahead of the FOMC rate decision later today. Overall, short-term EURUSD bulls are in control of the currency pair while price continues to trade above the 1.1050 level.

• The EURUSD pair is bullish while trading above the 1.1050 level, key resistance remains at the 1.1090 and 1.1160 levels. 

• The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.