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EUR/USD – Will it remains strongly bullish?

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 18 Dec 2022
Category: EUR/USD
Technical Analysis eurusd

Table of Contents

The EUR/USD price remained positive throughout the week until the FOMC meeting revealed a persistent rate hike policy. The US dollar picked strength across the board. Now the focus has turned o Core PCE index data due on Thursday.


Technically, the EUR/USD pair remains strongly bullish. However, the price started correcting lower. The probability of testing the 20-day SMA around 1.0475 is quite high. Though the bullish crossover of 20-day and 200-day SMAs point to further gains.

Key levels to watch

Support 1: 1.0500

Support 2: 1.0475

Support 3: 1.0400

Resistance 1: 1.0650

Resistance 2: 1.0700

Resistance 3: 1.0750



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