The euro has moved away from the 1.1000 level against the US dollar as dip-buying prevails following the formation of a potential bullish lower weekly trading high. The EURUSD pair may start to target the 1.1090 technical level ahead of the FOMC rate decision later today. Overall, short-term EURUSD bulls are in control of the currency pair while the price continues to trade above the 1.1050 level.
The EURUSD pair is bullish while trading above the 1.1050 level, key resistance remains at the 1.1090 and 1.1160 levels. The EURUSD pair is only bearish while trading below the 1.1050 level, key support is found at the 1.1025 and 1.0980 levels.