EUR/USD Technical Analysis: Euro trapped in a rising wedge below 1.1800 ahead of FOMC

• EUR/USD has been grinding higher all day in a rising wedge shape ahead of the FOMC rate decision. The formation is  potentially bearish.
• The FOMC rate decision is most likely going to provide much volatility. Join the Fed Live Coverage – Today at 17:30 GMT, click here.

EUR/USD 15-minute chart

Spot rate:              1.1785
Relative change:   0.34%      
High:                     1.1793
Low:                      1.1729

Trend: Bearish below 1.1850  

Resistance 1: 1.1800
Resistance 2: 1.1821 current week’s high
Resistance 3: 1.1850 figure and near last week’s high

Support 1: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move
Support 2: 1.1650 June 5 low  
Support 3: 1.1600 figure