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EUR/USD Price Forecast: Range-bound trade persists below 100-day SMA
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FXStreet Forex & Commodities News
EUR/USD fluctuates on Tuesday, holding within the range seen over the past week.
At the time of writing, the pair trades around 1.1546, virtually unchanged on the day.
Technical analysis: Daily chartEUR/USD is hovering between the short- and longer-term moving averages and thus maintaining a neutral near-term bias.
On the downside, initial support is seen at the 50-day SMA at 1.1468, followed by a horizontal floor at 1.1400 and a deeper structural base near 1.1350.
On the topside, immediate resistance is located at the 100-day SMA at 1.1567, with a more significant barrier at the 200-day SMA at 1.1630.