EUR/USD hovering over 1.1240, daily peaks

The common currency keeps the upbeat tone on Wednesday, now sending EUR/USD to the area of session tops around 1.1240.

EUR/USD firmer ahead of FOMC

The pair has been trading on a firm fashion throughout the session, partially reverting yesterday’s deep pullback after finding decent support in the 1.1190 area for the time being.

Spot has practically ignored today’s mixed results from the US docket, as market participants remain focused on the imminent FOMC meeting and subsequent press conference by Chief J.Yellen, with the ‘dots plot’ and fresh growth forecasts on top of the agenda.

EUR/USD levels to watch

The pair is now advancing 0.21% at 1.1231 and a break above 1.1313 (55-day sma) would target 1.1417 (high Jun.8) en route to 1.1448 (high May 11). On the other hand, the immediate support aligns at 1.1190 (low Jun.14) followed by 1.1161 (up trend from March low) and then 1.1096 (low May 30).