The euro has moved towards the 1.1800 level against the US dollar, hitting 1.1804, as the greenback moves lower following the Federal Reserve’s decision to raise US interest rates as expected. The EURUSD pair briefly fell to a fresh monthly trading-low, hitting 1.1724, but dip-buyers soon reversed price higher. Traders now await the ECB Monetary Policy Meeting, with EURUSD bulls looking for further gains above the 1.1800 level.
The EURUSD pair is intraday bullish while trading above the 1.1800 level. Key resistance is now located at the 1.1839 and 1.1875 levels.
If the EURUSD pair moves below the 1.1750 level, sellers will likely test towards the 1.1726 and 1.1700 support levels.