The euro currency has staged an upside breakout against the US dollar, following the Federal Open Market Committee interest rate decision. The EURUSD pair could easily test towards the 1.1200 resistance level if price continues to trade above the 1.1100 level. Overall, the European Central Bank interest rate decision this afternoon is the next major risk event for the EURUSD pair.
The EURUSD pair is only bullish while trading above the 1.1100 level, key resistance is found at the 1.1180 and 1.1200 levels.
The EURUSD pair is only bearish while trading below the 1.1100 level, key support is found at the 1.1080 and 1.1050 levels.
