The euro is starting to lose bullish momentum against the US dollar after the pair once again failed to break the 1.1800 level after the FOMC interest rate decision and policy statement. The EURUSD pair came under pressure after Federal Reserve Chair Jerome Powell struck a hawkish tone towards future rate increases during his scheduled press conference. Sellers need to break the 1.1730 level, while buyers need to maintain price above the 1.1780 level.

The EURUSD pair is bearish while trading below the 1.1730 level, key support is found at the 1.1700 and 1.1668 levels.

If the EURUSD pair moves above the 1.1780 level, price may test towards the 1.1812 and 1.1850 resistance levels.

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