The euro currency is coming under renewed selling pressure against the US dollar after the FOMC policy statement revealed that the US Federal Reserve is likely to continue hiking US interest rates. The EURUSD pair is strongly bearish while trading below the 1.1352 level and may soon challenge key support, at 1.1300. Buyers need to move price above the 1.1400 resistance level to reduce short-term technical selling pressures.
The EURUSD pair is strongly bearish while trading below the 1.1352 level, key support is found at the 1.1300 and 1.1200 levels.
If the EURUSD pair moves above the 1.1400 level, buyers are once again likely to test towards the 1.1431 and 1.1452 resistance levels.
