Pair holds a bullish tone, and investors caution ahead of FOMC is likely halting an upside continuation, yet seems not for long. General optimism in markets should favor the rally, as gold rose almost $ 15/oz in the last 2 hours, while US indexes remain in positive territory. Technical indicators also favor the continuation with strong momentum rising and 20 SMA rotating to the upside. Above 1.3745 pair likely to quickly run to the 1.3770/80 area, thus a break above 1.3800 before FOMC seems unlikely.
Key support now lies at 1.3680; if broken pair could attempt a retest of the 1.3640 lows zone.
