EUR/USD Price Analysis: Rises to 1.0850; next barrier at upper boundary of triangle

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EURUSD News

Technical Analysis,Majors

EUR/USD extends its gains for the third straight day, trading around 1.0850 during the Asian session on Monday.

The EUR/USD pair could retest the upper boundary of the ascending triangle, followed by a key level of 1.0900. Based on a technical analysis of the daily chart, there appears to be a bullish bias for the pair. Immediate support is observed at the 21-day EMA at 1.0819, followed by the psychological level of 1.0800. A technical analysis of a daily chart suggests a bullish bias for the pair, as it moves upward within the ascending triangle.

0800 nearing the lower threshold of the ascending triangle. If the EUR/USD pair breaks below the lower boundary of the ascending triangle, it could face downward pressure, potentially descending toward the vicinity of the notable level of 1.0700. Additional support is likely to be found at the throwback support level around 1.0601. EUR/USD: Daily Chart EUR/USD Overview Today last price 1.0852 Today Daily Change 0.0004 Today Daily Change % 0.04 Today daily open 1.0848 Trends Daily SMA20 1.

 

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