EUR/USD Technical Analysis: EUR/USD bulls remain in control near 1.1750 ahead of the FOMC

• EUR/USD main bear trend is switching to bullish as EUR/USD is trading above its 100-day simple moving average.
• EUR/USD found support at the 1.1723 support and rebounded near 1.1750. EUR/USD is trading well above its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics indicators are slowing down. EUR/USD is also supported by the bull trendline (green). Upside targets are located near 1.1800 and 1.1853 (June 14 high).
• The bullish bias remains intact ahead of the FOMC. However, the event can potentially lead to extreme volatility on the currency pair.

EUR/USD 4-hour chart

Spot rate:             1.1745
Relative change:  -0.18%  
High:                    1.1776
Low:                     1.1725

Main trend:                    Bullish

Resistance 1:   1.1750 key resistance (July)
Resistance 2:   1.1800 figure
Resistance 3:   1.1853 June 14 high
Resistance 4:   1.1900 figure

Support 1:   1.1723 September 24 low
Support 2:   1.1654 August 27 high
Support 3:   1.1630 August 8 high key level
Support 4:   1.1600 figure
Support 5:   1.1572 July 19 low
Support 6:   1.1542 supply/demand level
Support 7:   1.1530 August 23 swing low
Support 8:   1.1508 June 8 low