EUR/USD Price Analysis: Decent support comes in around 1.2050

• EUR/USD stays choppy in the upper end of the recent range.
• So far, sellers met a tough barrier around the mid-1.2000s.

EUR/USD alternates gains with losses below the 1.2100 mark ahead of the FOMC event so far on Wednesday.

In the near-term, a surpass of Monday’s monthly peaks in the 1.2115/20 band carries the potential to accelerate the upside to the February’s top at 1.2243. On the downside, near-term support is located around 1.2050.

Above the 200-day SMA (1.1930) the outlook for EUR/USD is predicted to remain bullish.

EUR/USD daily chart