EUR/USD At 38.2% Fibo

Since yesterday the EUR/USD is trading stable above the 1.80 mark and the main reason for the surge is the Catalonia's PM Puigdemont who appealed for discussion with Spain about the independence concerns. Technically speaking on the four hour time frame, EUR/USD is keeping the upside bias. Currently the pair is flirting with the 1.1830 level, which has proved to be a very important barrier for the pair. Also this level coincides with the 38.2% Fibonacci retracement of latest September to October bearish run and in case of conquering it, the next target for the bulls would be the 50% of same Fibo at 1.1880, where the 200-day SMA is currently located. RSI is showing strong bullish momentum and is nearing the extreme overbought area. Stochastic is located at its extreme territory, but is starting to loose directional strength.  Considering all above, there is a possibility for slight rebound but meanwhile the focus today is on the FOMC meeting, which which would rather support the greenback.