EUR/USD Price Analysis: Consolidates Near 1.0900 As Bulls Take A Breather

10 and one 10 us dollar bill

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The EUR/USD pair traded with a neutral tone on Wednesday after the European session, hovering around the 1.0900 mark as market participants took a step back following its strong rally. The pair appears to be consolidating as bulls hesitate near recent highs, lacking strong momentum to push further.

From a technical perspective, the Relative Strength Index (RSI) remains in overbought territory but has started to flatten, signaling a pause in buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) continues to print green bars, suggesting that the overall bullish trend remains intact. However, the lack of immediate follow-through from buyers indicates that further gains may not be imminent.

Looking at key levels, immediate resistance is found at 1.0930, while a decisive break above this level could open the door toward 1.0980. On the downside, initial support lies near 1.0850, with stronger buying interest likely around the 200-day Simple Moving Average (SMA) at 1.0720.


EUR/USD daily chart

(Click on image to enlarge)


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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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