EURUSD (1.1777): The EURUSD managed to recover the losses from Wednesday following the FOMC meeting minutes which turned out to be dovish than expected. Still, the current retracement is likely to be a minor pullback with the overall bias shifting to the downside. The key risk is the fact that EURUSD once again managed to rally back above the support of 1.1730. Near-term bullish momentum could send EURUSD back to the resistance level of 1.1800. After that, the sideways range is likely to be formed. A break down below 1.1730 would suggest a move to 1.1635. To the upside, above the resistance of 1.1800, expect EURUSD to continue pushing towards the next main resistance level of 1.1835.
