The euro currency Is struggling to gain upside momentum against the US dollar as traders remain tense ahead of today’s policy decision from the FOMC. The Ichimoku indicator on the four-hour time frame shows that the EURUSD pair is vulnerable to more losses while the price is capped under the 1.1960 level. The Ichimoku indicator highlights that break above the 1.1960 resistance level could encourage a test towards the 1.1980 level and possibly the 1.2030 area.
The EURUSD pair is only bullish while trading above the 1.1960 level, key resistance is found at the 1.1980 and 1.2040 levels.
EURUSD pair is only bearish while trading below the 1.1960 level, key support is found at the 1.1880 and 1.1830 levels.