EURUSD FOMC to decide
The euro continues to hold below the 1.1100 level against the US dollar as traders look to a busy week ahead of market action. The direction of the EURUSD pair is likely to be decided by the outcome of the FOMC rate decision later this week. A rate cut could push the EURUSD towards the 1.1200 level, while a more hawkish FOMC decision could see sellers forcing the pair back towards the 1.1000 level.
The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1050 and 1.1010 levels.
The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.