INTRADAY EURO BUYING EXPECTED ABOVE 1.1644
The euro continues to struggle to find a directional bias against the U.S dollar, with price-action trading in an increasingly tight-range. The EURUSD pair currently trades above the key 1.1644 level, as investors remain cautious, ahead of the release of key high-impact economic data from the U.S economy. During the late U.S session, the Federal Reserve will decide on interest rates, with most economists expecting the FOMC meeting will be a non-event, as the U.S policy makers keep rates on hold.
Further intraday buying in the EURUSD pair is expected, while price-action holds above the 1.1644 level. Euro buyers will likely move price towards the 1.1670 level, with extended intraday euro resistance found at 1.1713.
Should the EURUSD fall below the 1.1644 level for an extended period, sellers will likely push the euro back to the 1.1610 and 1.1580 levels.