The Euro started a fresh decline from well above the 1.1450 zone against the US Dollar. The EUR/USD pair traded below the 1.1400 support zone to move into a bearish zone.
There was also a move below the 1.1350 level the 50 hourly simple moving average. A low was formed near 1.1300 and the pair is now correcting higher. An immediate resistance near the 1.1350 level.
The next major resistance is near the 1.1380 level. A break above the 1.1350 and 1.1380 resistance levels could start a decent increase towards the 1.1420 level in the near term.
On the downside, an initial support is near 1.1312 on FXOpen. The next key support is near 1.1300, below the pair could decline heavily. In the stated case, the pair could move down towards the 1.1250 level in the near term.
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