Euro falls on fading Fed effects but remains in a range between two key levels

The Euro lost ground and fell 0.5% on Thursday, reversing the most of previous day’s post-Fed rally.
With the dollar regaining traction on rising US yields, despite the Fed signaled extended period of ultra-low rates the Euro came under pressure again after the sentiment has been already soured by ECB’s announcement of prolonged highly accommodative policy on last week’s policy meeting.
Fresh weakness emerged after upside attempts were again repeatedly rejected on approach to key 1.20 resistance zone, shifting focus lower again.
Near-term action is now stuck within tow key levels: 1.1887 (cracked Fibo 61.8% of 1.1602/1.2349 and 1.20 zone, with break of either obstacle to generate fresh direction signal.
Weak daily studies weigh on near-term action, with break of 1.1887 to expose next key supports at 1.1840/35 (200DMA / Mar 9 low).
Only firm break of 1.20 pivots would neutralize downside risk and revive bulls.

Res: 1.1975; 1.1990; 1.2000; 1.2012
Sup: 1.1908; 1.1887; 1.1868; 1.1835