The euro has given back its hard-earned weekly trading gains against the U.S dollar, as the greenback strengthens on expectations that the FED will hike U.S interest rates 0.25 percent later today. The EURUSD pair has moved a fresh March trading low in early Wednesday trading, with price-action falling towards the 1.2239 support level. Traders and investors are likely to remain focused on the U.S Federal Reserve policy meeting later today, where new Jerome Powell will deliver his first press conference as FED Chair.
The EURUSD pair is intraday bearish whilst trading below the 1.2278 level, key technical support is currently found at the 1.2205 and 1.2160 levels.
If the EURUSD pair falls moves above the 1.2278 resistance level, buyers will likely test towards the 1.2305 and 1.2334 levels.
