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Forex pairs in this Article » EUR/USD (Chicago) - EUR/USD reached 1.3779 highs at the start of the European session and is now attempting to consolidate prior to the Fed’s monetary policy decision.

Price action shows that the pair managed to erase most earlier losses and is presently 0.04% down on the day. With longer term trends in the ascent, the direction of the price is uncertain hours prior to the release of the Fed’s decision.

EUR/USD Technical Levels

Offered at 1.3764, the pair navigates between the supports aligned at 1.37 (December 13th lows), 1.3656 (October 21st lows) ahead of 1.3577 (November 20th highs) and the resistances set at 1.3796 (December 10th highs), 1.3834 (October 26th highs) followed by 1.3914 (October 16th 2011 highs). According to the trend index on one-hour timeframe analysis, the pair is slightly bearish and navigates below the EMA20.
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