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HomeContributorsTechnical AnalysisEUR/USD Pair is Rising above 1.0350

EUR/USD Pair is Rising above 1.0350

FXOpen
By FXOpen

The Euro started a decent increase above the 1.0200 and 1.0280 resistance levels against the US Dollar. The EUR/USD pair gained pace above the 1.0420 level to move into a positive zone.

It tested the 1.0480 zone before there was a correction towards 1.0300. The pair is now rising and trading above the 1.0350 level. It seems to be facing resistance near the 1.0375 and the 50 hourly simple moving average.

The first major resistance is near the 1.0400 level. A break above the 1.0400 resistance level could start a fresh upward move. In the stated case, it could even surpass 1.0450 on FXOpen.

Conversely, the pair might start a fresh decline below 1.0350. The next key support is near 1.0320, below the pair could decline towards the 1.0300 level. Any more losses might send the pair towards the 1.0250 level in the coming sessions.

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