EURUSD FOMC to decide

The euro continues to hold below the 1.1100 level against the US dollar as traders look to a busy week ahead of market action. The direction of the EURUSD pair is likely to be decided by the outcome of the FOMC rate decision later this week. A rate cut could push the EURUSD towards the 1.1200 level, while a more hawkish FOMC decision could see sellers forcing the pair back towards the 1.1000 level.

• The EURUSD pair is only bearish while trading below the 1.1110 level, key support is found at the 1.1050 and 1.1010 levels.
• The EURUSD pair is only bullish while trading above the 1.1110 level, key resistance is found at the 1.1180 and 1.1220 levels.