The euro currency has moved to fresh yearly trading high against the US dollar, with the pair rallying above the 1.2200 level after the FOMC policy decision. Lower time frame analysis continues to suggest that the 1.2280 resistance level is the next major upside target for EURUSD bulls. Looking above the 1.2280 level, a technical breakout above the 1.2300 area could propel the EURUSD towards the 1.2400 price zone.
The EURUSD pair is only bearish while trading below the 1.2177 level, key support is found at the 1.2130 and 1.2090 levels.
The EURUSD pair is only bullish while trading above the 1.2177 level, key resistance is found at the 1.2280 and 1.2400 levels.
