The $EURUSD has been trading in a tight range against the US dollar (USD) in recent sessions, with the psychologically important 1.10 level acting as a key resistance level.
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On the downside, the EUR/USD pair has significant support near the 1.09 level and the 50-Day Exponential Moving Average at 1.08, which is rising steadily. Many traders view the rising 50-Day EMA as a sign that the pair is in an uptrend. The ECB has been more vocal about its intention to continue tightening monetary policy, while the Fed has been more cautious.
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