The Euro started an upside correction from the 0.9870 level against the US Dollar. The EUR/USD pair was able to clear the 0.9920 and 0.9950 resistance levels.
There was close above the 1.0000 level and the 50 hourly simple moving average. The pair is now showing positive signs and traded as high as 1.0084. An immediate resistance on the upside is near 1.0085. The first major resistance is near the 1.0100 level.
The next major resistance is near the 1.0120 level. A break above the 1.0120 resistance level could start a decent upward move. In the stated case, it could even surpass 1.0200 on FXOpen.
Conversely, the pair might start another decline below 1.0050. The next key support is near 1.0000, below the pair could decline towards the 0.9980 level. Any more losses might send the pair towards the 0.9920 level.
