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HomeContributorsTechnical AnalysisEUR/USD Pair Gained Pace above the 1.0120 Level

EUR/USD Pair Gained Pace above the 1.0120 Level

FXOpen
By FXOpen

The Euro started a decent increase above the 1.0050 and 1.0080 resistance levels against the US Dollar. The EUR/USD pair gained pace above the 1.0120 level to move into a positive zone.

There was close above the 1.0150 level and the 50 hourly simple moving average. The pair is now consolidating gains near the 1.0190 zone. An immediate resistance on the upside is near 1.0200. The first major resistance is near the 1.0220 level.

A break above the 1.0220 resistance level could start a decent upward move. In the stated case, it could even surpass 1.0250 on FXOpen.

Conversely, the pair might start a fresh decline below 1.0150. The next key support is near 1.0120, below the pair could decline towards the 1.0100 level. Any more losses might send the pair towards the 1.0050 level in the coming sessions.

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