The euro is rising against the US dollar on Tuesday.

The exchange rate trades at 1.2345 at 0755 GMT, closer to the upper boundary of the hourly Bollinger bands.

Support may be offered by the lower boundary of the hourly Bollinger bands and the 55-hour SMA, both located near the 1.2310 area. The weekly pivot point is located at 1.2321.

Resistance may be seen at the weekly R1 located at 1.2381.
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