FxWirePro: EUR/USD recovers slightly, markets eye US FOMC meeting

• EUR/USD has shown a slight uptick ahead of US Fed monetary policy. US Donald Trump and Kim historic first meeting happened yesterday in Singapore and they have signed a denuclearization deal. Markets eye US FOMC policy decision which is to be concluded today. Fed is expected to hike 25 basis point and any hawkish statement will take the drag the pair. The pair hits intraday low of 1.17703 and is currently trading around 1.17631.
   
• On the higher side, near term major intraday resistance is around 1.1850 and any convincing break above will take the pair to next level till 1.1900/1.2000 .Short term bearish invalidation only above 1.2020 (200- day MA).
   
• The near term major support is at 1.1660 and any convincing break below will drag the pair to next level till 1.1600/1.1500. The minor support is around 1.1790/1.1750.

It is good to sell on rallies around 1.1800 with SL around 1.1850 for the TP of 1.1660/1.1600.