FxWirePro: EUR/USD consolidating around 1.1310, bias is bullish
EUR/USD pair rose towards 1.1334 in the European session, but reversed course giving up most of gains made earlier to trade around 1.1311 in the early US session. Ahead in the session investors will be keeping a close ey…
EUR/USD pair rose towards 1.1334 in the European session, but reversed course giving up most of gains made earlier to trade around 1.1311 in the early US session.
Ahead in the session investors will be keeping a close eye on Feds assessment of US economy while markets expect Federal Reserve to keep rates steady at 0.50 %.
Further downside is expected to be limited as Euro is stronger across the board against US dollar ahead of FOMC statement.
To the upside, the strong resistance can be seen at 1.1367, a break above will take the pair towards next resistance level at 1.1400.
To the downside immediate support can be seen 1.1300 levels, a break below will open gates towards 1.1265 levels.
