The euro currency is struggling to make upside traction against the US dollar, as traders remain cautious towards the pair ahead of the FOMC policy decision. Technical analysis shows that a major directional break should come once the 1.2090 to 1.2177 price range is breached. Due to the overall bullish trend, it is possible that the EURUSD could eventually break higher and test close to the 1.2300 level.
The EURUSD pair is only bearish while trading below the 1.2130 level, key support is found at the 1.2090 and 1.2050 levels.
The EURUSD pair is only bullish while trading above the 1.2130 level, key resistance is found at the 1.2177 and 1.2280 levels.
