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HomeContributorsTechnical AnalysisEUR/USD Pair is Currently Consolidating Gains from $1.0764

EUR/USD Pair is Currently Consolidating Gains from $1.0764

FXOpen
By FXOpen

The Euro started a fresh increase from the 1.0625 support zone against the US Dollar. The EUR/USD pair surpassed the 1.0650 level to move into a positive zone.

The price even traded above the 1.0700 level and the 50 hourly simple moving average. It traded as high as 1.0764 and is currently consolidating gains. An immediate support is near the 1.0740 level.

The next key support is near 1.0700 and the 50 hourly simple moving average, below the pair could decline towards the 1.0650 level in the near term. Any more losses might send the pair towards the 1.0600 level.

On the upside, the pair might struggle near 1.0765. The next major resistance is near the 1.0785 level. A break above the 1.0785 and 1.0800 resistance levels could start another increase. In the stated case, it could even surpass 1.0850 on FXOpen.

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