EURUSD LOSING BULLISH MOMENTUM BELOW 1.2382
The euro currency has started to move lower against the U.S dollar, after the FOMC Meeting Minutes showed a more hawkish tone from U.S policy makers than expected. The EURUSD pair currently trades around the 1.2350 level, after finding strong weekly technical resistance from the 1.2396 level on Wednesday. Traders now look towards the ECB Monetary Policy Meeting Accounts, which provides a summary of the ECB’s monetary policy analysis and current monetary policy stance.
The EURUSD pair only retains its bullish intraday bias while trading above the 1.2333 level, key upside resistance remains at the 1.2382 and 1.2400 levels.
Should price-action on the EURUSD start to trade below 1.2333 level, sellers will likely test towards the 1.2300 and 1.2275 levels.