The EUR has broken to the upside, on the back of some bullish news and a weaker than expected USD. I said yesterday that if we pulled above the 1.1800 level the chart will start looking a little more neutral in the short-term. I think that we have to wait out and see what the FOMC minutes will bring as it will likely dictate much about what happens.

When the market is waiting on big news, it’s good to be ready and waiting for opportunities with some key support and resistance levels in mind. It allows you to make quick decisions and get better entries.

My bias is still bearish and I’ll be looking for any spikes to sell at these resistance levels.

Key Support and Resistance Levels

EUR/USD – 240 min Chart.