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HomeContributorsTechnical AnalysisEUR/USD Pair is Consolidating Losses Near 0.9990

EUR/USD Pair is Consolidating Losses Near 0.9990

FXOpen
By FXOpen

The Euro struggled to clear the 1.0080 and 1.0100 resistance levels against the US Dollar. The EUR/USD pair reacted to the downside and declined below the 1.0040 support.

There was close below the 1.0000 level and the 50 hourly simple moving average. The pair is now consolidating losses near the 0.9990 zone. An immediate resistance on the upside is near 1.0025 and the 50 hourly simple moving average. The first major resistance is near the 1.0040 level.

A break above the 1.0040 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 0.9960. The next key support is near 0.9920, below the pair could decline towards the 0.9860 level. Any more losses might send the pair towards the 0.9820 level.

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