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HomeContributorsTechnical AnalysisEUR/USD Pair is Consolidating Losses from $0.9910

EUR/USD Pair is Consolidating Losses from $0.9910

FXOpen
By FXOpen

The Euro remained in a bearish zone the key parity level against the US Dollar. The EUR/USD pair even traded below the 0.9925 level before the bulls appeared.

There was close below the 0.9950 level and the 50 hourly simple moving average. A low was formed near 0.9910 and the pair is now consolidating losses. An immediate resistance on the upside is near 0.9975. The first major resistance is near the 1.0000 level.

The next major resistance is near the 1.0015 level. A break above the 1.0015 resistance level could start a decent upward move. In the stated case, it could even surpass 1.0080 on FXOpen.

Conversely, the pair might start another decline below 0.9925. The next key support is near 0.9900, below the pair could decline towards the 0.9865 level. Any more losses might send the pair towards the 0.9840 level.

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