EURUSD – post-Fed minutes rally face strong headwinds at 1.1800 zone

The Euro is holding firm tone in early Thursday and trading near 1.1800 handle, following bounce on Wednesday after Fed minutes disappointed traders.
Policymakers showed strong concerns about low inflation that could delay widely expected Fed rate hike towards the end of the year.
The Euro benefited from fresh weakness of the dollar and bounced from strong supports at 1.1680/90 zone, where the base is forming after multiple downside rejection.
Fresh bulls dented important barrier at 1.1770 (10SMA and weekly 200SMA) clear break of which is needed to generate stronger bullish signal for retest of 1.1910 (02 Aug high) and final attempt towards psychological 1.2000 barrier.
On the other side, repeated rejection on approach to 1.1800, where upside attempts failed on Tue/Wed, would keep the downside vulnerable for fresh attacks at 1.1680/90 base.
Break here would trigger deeper correction of 1.1188/1.1910 rally and expose supports at 1.1640 (daily Kijun-sen) and 1.1607 (Fibo 38.2% of 1.1188/1.1910 upleg).
Eurozone inflation data are due today and expected to give fresh signals.

Res: 1.1789; 1.1838; 1.1846; 1.1910
Sup: 1.1756; 1.1723; 1.1685; 1.1640