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HomeContributorsTechnical AnalysisEUR/USD Pair is Currently Consolidating Gains Near 1.0830

EUR/USD Pair is Currently Consolidating Gains Near 1.0830

FXOpen
By FXOpen

The Euro started a fresh increase from the 1.0770 zone against the US Dollar. The EUR/USD pair gained pace above the 1.0800 to move into a positive zone.

The pair even traded above the 1.0820 level and the 50 hourly simple moving average. It is currently consolidating gains near the 1.0830. An immediate resistance is near the 1.0840 level.

The first major resistance is near the 1.0850 level. A break above the 1.0850 resistance level could start another increase. In the stated case, it could rise towards the 1.0920 resistance.

Conversely, the pair might start another decline below 1.0820 on FXOpen. The next key support is near 1.0800 and a connecting bullish trend line on the hourly chart, below the pair could drop towards the 1.0770 level. Any more losses might send the pair towards the 1.0725 level in the near term.

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