The euro has moved back above the 1.0800 level against the US dollar after sellers failed to maintain the recent breakout below the 1.0770 level. The EURUSD pair is still at risk of further losses while trading below the 1.0880 level, although repeated downside failure may attract bulls. Overall, medium-term traders may be cautious until the FOMC and ECB policy meetings are completed this week.
The EURUSD pair is only bullish while trading above the 1.0880 level, key resistance is found at the 1.0940 and 1.0990 level.
The EURUSD pair is only bearish while trading below the 1.0880 level. Key support is found at the 1.0770 and 1.0730 levels.
