EURUSD Awaiting FOMC
The euro currency is struggling to form a clear short-term price trend against the US dollar, following the recent recovery from the 1.1800 support area. Traders may be slightly cautious towards being over positioned ahead of the release of today’s FOMC meeting minutes. Technical analysis highlights that a forty-point directional move could take place once the 1.1800 to 1.1900 price range is broken.
The EURUSD pair is only bearish while trading below the 1.1860 level, key support is found at the 1.1800 and 1.1760 levels.
The EURUSD pair is only bullish while trading above the 1.1860 level, key resistance is found at the 1.1900 and 1.1940 levels.