The EURUSD continued to play in a tight range between 1.2330 and 1.2220.  A break below 1.220 could lead to a move towards 1.2180.  A break of 1.2330 could lead to a push up towards 1.24.  Ahead of Wednesdays FOMC meeting consolidation could be the plan of action.  If the FOMC stands aside and waits for the ECB and BOE on Thursday the cross could lose ground to the dollar in the short-term.  I would expect any dips to be bought ahead of the ECB.

Sup    1.2220

Res     1.2330

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