EURUSD 1.1000 struggle
The euro is struggling to move above the 1.1000 resistance level against the US dollar as traders remain cautious ahead of the release of the FOMC meeting minutes. Bearish Sino-US trade news has also previously failed to send the EURUSD pair higher. Overall, unless the 1.1025 level is broken, traders may be considering initiating short positions from just above the 1.1000 area.
The EURUSD pair is only bearish while trading below the 1.0950 level, key support is found at the 1.0920 and 1.0880 levels.
The EURUSD pair is bullish while trading above the 1.0950 level, key resistance is found at the 1.1025 and 1.1070 levels.