FxWirePro: EUR/USD key support at 1.1290, bullish in the short term

>The EUR/USD inched higher in the early European session, however the pair has hit resistance at 1.1335 and is turning back towards 38.2% support located at 1.1290. A rebound is expected sooner or later above 1.1290 support level, as the Euro is broadly stronger against dollar ahead of today's FOMC meeting

>Extreme volatility is expected in today's market as the Fed is set to announce rate hike decision later in the day so traders should trade this pair with caution.

>To the upside, the strong resistance can be seen at 1.1335, a break above this level would take the pair towards next resistance level at 1.1373 levels.

>To the downside immediate support can be seen at 1.1290 (38.2 % Retracement level), a break below this level will open the door towards next level at 1.1250.

Recommendation: Go long above 1.1270, targets 1.1350, 1.1380, SL 1.1200

Resistance Levels

R1: 1.1335 (23.6% Retracement level)

R2: 1.1373 (September 14th high)

R3: 1.1436 (Aug 26th high)

Support Levels

S1: 1.1290 (38.2 % Retracement level)

S2: 1.1250(50% Retracement level)

S3: 1.1214 (61.8% Retracement level)