1 Euro How Many USD - EUR/USD has continued to show consecutive increases since February 14 as the US Dollar (USD) has faced downward pressure, which in turn supports the movement of the EUR/USD pair. The pair further rose to around 1.0810 during the Asian session on Wednesday.
 
The EUR/USD pair has the potential to rise to test the immediate resistance zone around the 50-day Exponential Moving Average (EMA) at 1.0834 and the three-week peak at 1.0838. If it successfully breaks through this zone, it could provide additional support for the pair to reach the main support at 1.0850, followed by the 38.2% Fibonacci retracement level at 1.0864.
 
Technical analysis on the EUR/USD pair indicates a potential shift toward upward momentum. Although the 14-day Relative Strength Index (RSI) stands at 50, indicating a neutral stance, the Moving Average Convergence Divergence (MACD) is below the midpoint but shows divergence above the signal line. Traders may wait for further confirmation from the MACD to determine a clearer trend direction.
 
However, on the downside, the nearest support is seen at the psychological level of 1.0800, followed by the recent low at 1.0761 that occurred on Tuesday. A penetration below these levels could exert downward pressure on the EUR/USD pair, leading movements toward the main support level at 1.0750, with a target approaching the psychological support at 1.0700.
 
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Warning!
 
The analysis "1 Euro How Many USD? Check Here Before Trading" is based on perspectives from fundamental and technical sources, and is not intended as advice or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research first regarding other forex information as a reference for your trading.
 
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