EUR/USD: Focus back onto 1.1025+ FOMC spike high - 2ndSkies

FXStreet (Bali) - The EUR/USD market has put the focus back onto the 1.1025+ FOMC spike highs, after recording strong gains on Thursday, notes Chris Capre, Founder at 2ndSkies.

Key Quotes

After holding 1 day below the ST 1.08 role reversal level, the Euro gained strongly today, closing just below 1.09.

This puts the focus back onto the 1.1025+ FOMC spike highs, so will look to sell pullbacks here.

Rejections at this key resistance level here should target 1.09 at a minimum and then 1.08. Only a daily close above here reduces the bearish risk.