Fri, Apr 19, 2024 @ 23:33 GMT
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HomeContributorsTechnical AnalysisEUR/USD Pair Moved into a Positive Zone above $1.0700

EUR/USD Pair Moved into a Positive Zone above $1.0700

FXOpen
By FXOpen

The Euro started a fresh increase from the 1.0650 support zone against the US Dollar. The EUR/USD pair surpassed the 1.0700 level to move into a positive zone.

The price even traded above the 1.0720 level and the 50 hourly simple moving average. It traded as high as 1.0765 and is currently consolidating gains. An immediate support is near the 1.0745 level.

The next key support is near 1.0720, below the pair could decline towards the 1.0700 level and the 50 hourly simple moving average in the near term. Any more losses might send the pair towards the 1.0650 level.

On the upside, the pair might struggle near 1.0780 on FXOpen. The next major resistance is near the 1.0800 level. A break above the 1.0780 and 1.0800 resistance levels could start a decent increase towards the 1.0900 level in the near term.

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