EUR/USD consolidates gains below 1.0700

Not unexpectedly, EURUSD began to adjust yesterday after a strong decline. The price officially confirmed the new bottom and lifted the pair towards 1.0678 in the first trading hours of Thursday! Accordingly, the EURUSD rally is underpinned by renewed selling pressure in the US Dollar and a risk-friendly environment. Markets remain optimistic about avoiding a deepening Iran-Israel conflict, with the UK, EU and US looking to expand sanctions on Iran.

The ideal and highest possible recovery level is at 1,072 and continues to decrease after establishing a new psychological threshold around 1,060. Technically it is difficult for EURUSD to trade back above 1.072 this week when the strength of the trendline and resistance areas still hold. The bearish trend is still covering the EUR and the expectation of reaching the lowest price range of 1,057 is our target.

Support: 1.065 1.060
Resistance: 1.080 1.073

Comment:

The 34 EMA provided a small resistance area that prevented the pair from rising towards the 1.07200 resistance zone.

Comment:

EURUSD is moving sideways in the price range of 1.072 to 1.060

Trade active:

With the sideway situation, the possibility of EUR continuing to decline is quite high

Trade active

Comment:

EURUSD continye sideway

Comment:

EURUSD coming 1.072 resistance