EUR/USD Price Analysis: Falls to near 1.0700 before a throwback support

The EUR/USD pair could test a throwback support at the 1.0670 level. The daily chart suggests a bearish bias as the pair consolidates within the descending channel. The immediate resistance appears at the 14-day EMA at the level of 1.0743. A technical analysis of a daily chart suggests a bearish bias for the pair, as it consolidates within the descending channel.

On the upside, the EUR/USD pair could meet the immediate barrier at the 14-day Exponential Moving Average at the level of 1.0743. A breakthrough above this level could lead the pair to test the area around the psychological level of 1.0800 and the upper boundary of the descending channel nearing the level of 1.0810. Further resistance appears at the vicinity of the significant level of 1.0900 and a three-month high at 1.0915, which was recorded on June 4.

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