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EUR/USD Technical Analysis

On the hourly chart of EUR/USD at FXOpen, the pair struggled near the 1.1090 resistance and reacted to the downside. The Euro declined below the 1.1040 support against the US Dollar.

The pair retested the 1.1000 support and is currently moving higher. On the upside, immediate resistance is near the 50-hour simple moving average at 1.1045.

The next major resistance is near the 1.1060 level. A break above the 1.1060 resistance zone could start a decent increase toward the 1.1090 zone. A close above the 1.1090 level might start a strong increase toward the 1.1150 resistance.

Conversely, the pair might resume its decline from the 1.1060 level. Initial support is near the 1.1040 zone and a connecting bullish trend line. The next major support is near 1.1000, below which EUR/USD could test the 1.0945 support.

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