EUR/USD Price Analysis
As of Tuesday's Asian session, the EUR/USD pair is up for the second day in a row, trading at about 1.0930. A weakening of a positive trend is indicated by the daily chart analysis. A second indication of the bullish outlook for the EUR/USD pair is the 72-daily EMA below the price. An evident directional trend will be revealed by further movement.
The possibility of the EUR/USD pair returning to the descending trendline would strengthen the bullish bias and enable the pair to approach the psychological level of 1.1000, as well as the upper border of the ascending channel, which is located close to 1.1100.
On the downside, The 72-daily EMA provides quick support when prices drop. Should this level be broken, the EUR/USD pair may be under pressure to move lower and through the area around the crucial 1.0670 level, which might act as a previous support level.
The possibility of the EUR/USD pair returning to the descending trendline would strengthen the bullish bias and enable the pair to approach the psychological level of 1.1000, as well as the upper border of the ascending channel, which is located close to 1.1100.
On the downside, The 72-daily EMA provides quick support when prices drop. Should this level be broken, the EUR/USD pair may be under pressure to move lower and through the area around the crucial 1.0670 level, which might act as a previous support level.
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