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Technical analysis

The RSI is above line 50, indicating that an uptrend may prevail

The Ichimoku indicator displays a bullish sentiment

The Stochastic suggests a possible upward correction.

What the possible outcomes are

In our most likely scenario, the EURUSD pair may attempt to recover towards the first resistance level of 1.17662.

If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 1.18001.

Alternatively, the EURUSD pair may decline to the first support level of 1.17332.

A pass below the first level can move the price up lower toward 1.17048.

Key levels

Support 1.17048 1.7332

Resistance 1.17662 1.18001