The euro has continued to recover higher against the US dollar during the European trading session, with the pair briefly move above the 1.1100 resistance area. The EURUSD pair could easily target the 1.1160 level if bulls can force a sustained breakout above the 1.1100 level. The rally is unlikely to run past the 1.1160 resistance area, as the FOMC interest rate decision is only days away.
The EURUSD pair is bullish while trading above the 1.1050 level, key resistance is found at the 1.1130 and 1.1160 levels.
The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1000 and 1.0930 levels.
