Tue, Jan 31, 2023 @ 17:10 GMT
HomeContributorsTechnical AnalysisEUR/USD Pair is Consolidating Gains from 1.0867

EUR/USD Pair is Consolidating Gains from 1.0867

The Euro started a fresh increase from the 1.0730 zone against the US Dollar. The EUR/USD pair gained pace above the 1.0750 to move into a positive zone.

The pair even traded above the 1.0800 level and the 50 hourly simple moving average. It traded as high as 1.0867 and is currently consolidating gains. An immediate resistance is near the 1.0865 level.

The first major resistance is near 1.0880 on FXOpen. A break above the 1.0880 resistance level could start another increase. In the stated case, it could rise towards the 1.0950 resistance.

Conversely, the pair might start another decline below 1.0820. The next key support is near 1.0800, below the pair could drop towards the 1.0760 level. Any more losses might send the pair towards the 1.0720 level in the near term.

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