EUR/USD could test the upper boundary of the symmetrical triangle. Breaking above the upper boundary could potentially shift momentum toward a bullish trend. A breach below the 14-day EMA at 1.0752 could prompt the pair to test the psychological threshold of 1.0700. EUR/USD has recoveredits recent gains registered in the previous session, trading around 1.0780 during the Asian session on Tuesday.
A break above this level could support the pair to test April’s high of 1.0885. On the downside, key support for the EUR/USD pair is anticipated around the 14-day Exponential Moving Average at 1.0752. A break below the latter could lead the pair to navigate the region around the psychological threshold of 1.0700, coinciding with the lower boundary of the symmetrical triangle around the level of 1.0690. Further support levels may emerge around April’s low at 1.0601.
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