Euro Rises Above 1.1750, Pares Losses from Previous Session

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The euro resumed its bullish momentum on Wednesday as price rose another 0.65% on the day.

The common currency is trading above the 1.1750 handle following the Fed meeting. However, in the early Asian session on Thursday, the euro is seen giving back the gains.

This could mean that the euro will likely test the 1.1750 level to establish support. A rebound off this level will possibly see another move to the upside.

But a close below the 1.1750 could spell a possible correction.

Watch the minor trend line as well, which could confirm this if price breaks to the downside.

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