EUR/USD currency pair analysis

The euro against the dollar settled below 1.0540 levels, thus the price remains under negative pressure to decline in the medium term, and the target will be the level of 1.0450. The moving averages constitute an additional negative pressure factor on the price, as it is moving around one level at the resistance 1.0540. On …

The euro against the dollar settled below 1.0540 levels, thus the price remains under negative pressure to decline in the medium term, and the target will be the level of 1.0450.

The moving averages constitute an additional negative pressure factor on the price, as it is moving around one level at the resistance 1.0540.

On the other hand, it should be noted that the price breaching the level of 1.0585 will motivate buyers to increase buying contracts and pressure prices to start an ascending path towards the 1.0645 resistance.

Other technical indicators indicate sideways movement in the medium term and do not give any clear indication of movement.

The expected trading range for today is between 1.0477 support and 1.0600 resistance.

Support: 1.0530—1.0500—1.0475.

Resistance: 1.0550—1.0600—1.0645.

The forecast general trend for today: bearish.

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