EUR/USD Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The FX pair has shown a slight decline, approaching the key support level of 1.07830. Currently, it is trading below the 50-period, 100-period, and 200-period Simple Moving Averages, indicating a bearish sentiment in the market. These moving averages act as dynamic resistance levels, suggesting that the pair may continue to face selling pressure in the near term. However, a potential shift in momentum could occur if the price breaks above the 1.08385 level, which would signal a bullish reversal. A move above this threshold could suggest a continuation towards the next resistance zone near 1.09500, as traders may gain confidence in the pair's upward momentum.



If the price fails to regain bullish strength and no significant upward movement materializes in the short term, the pair might test the 1.07300 support level. A breach below this support could lead to further downside pressure, potentially indicating a deeper retracement.
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