The euro has turned sharply lower against the US dollar in early Wednesday trading, as traders start to square positioning and book profits ahead of today’s key rate decision from the US Federal Reserve. The EURUSD pair currently trades below the key 1.1750 level, after being strongly rejected from the 1.1800 level once again. Traders now look towards the release of key Employment and Industrial Production data from the eurozone economy.
The EURUSD pair is intraday bearish while trading below the 1.1750 level. Key support is located at the 1.1726 and 1.1700 levels.
If the EURUSD pair moves above the 1.1750 level, buyers may try to push price towards the 1.1800 and 1.1839 resistance levels.
