EUR/USD gained traction in the second half of the day on Monday and closed in positive territory. Early Tuesday, the pair struggled to preserve its re
. Ahead of the Federal Reserve's policy announcements on Wednesday, however, investors could overlook these data.The last five 4-hour candles close above the 20-period Simple Moving Average on the 4-hour chart. In addition, the Relative Strength Index indicator rose to the 50 area, suggesting that sellers remain on the sidelines.
On the upside, 1.0700 forms key resistance for EUR/USD. In case the pair rises above that level and starts using it as support, the next recovery targets could be set at 1.0750 and 1.0800 .fails to reclaim 1.0700, it could come under renewed bearish pressure. In that scenario, supports could be seen at 1.0670 , 1.0650 and 1.0630 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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