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EUR/USD: Today’s Major Levels 1.0991 and 1.0899
The EUR/USD pair has been oscillating since the 23rd of December 2015, with the price travelling between the levels of 1.0991 and 1.0869.
During the course of the day on Tuesday, the pair consolidated between the levels of 1.0992 and 1.0956. Today, the pair kept moving on the sidelines initially to subsequently dive aggressively down to 1.0899, testing the 1.09 handle, after the release of upbeat U.S. consumer confidence and goods trade deficit data. In the event that the sellers keep forcing the pair lower and the price breaks below 1.0899, the pair could decelerate down to 1.0869 and 1.0794 in extension.
Alternatively, in the scenario where the price attempts to bounce back up and breaks above 1.0938, the pair could escalate up to 1.0991 and 1.1008 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.