EUR/USD currency pair analysis

The EUR/USD pair was unable to stabilize above the resistance level at 1.0550, and bounced down to near the main support 1.0475, then returned to rise with today's trading, under the positive influence of the moving average 50, which pushed the price to rise. Also, the stochastic indicator is positive. Therefore, we are likely to see the price return to test the resistance level and try to breach it, and the extended targets will be 1.0600 and then 1.0645.

The expected trading range for today is between the support 1.0440 and the resistance 1.0610.

Support: 1.0500—1.0475.

Resistance: 1.0550—1.0600—1.0645.

The forecast trend for today: neutral.

Author: GC
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