The EUR/USD pair extends its downside around 1.0465 after breaking below the 1.0500 mark during the Asian trading hours on Tuesday. The downtick of th
e major pair to the fresh year-to-date lows is supported by the stronger US Dollar broadly and the sign of ending the rate hike cycle by the, EUR/USD holds below the 50- and 100-hour Exponential Moving Averages with a downward slope, which means the path of least resistance for the pair is to the downside. The Relative Strength Index holds in bearish territory below 50.
On the upside, the immediate resistance level for EUR/USD will emerge near the 50-hour EMA at 1.0577. The critical barrier to watch is the confluence of the upper boundary of the Bollinger Band and the 100-hour EMA at 1.0630. The additional upside filter is seen at 1.0670 , followed by a psychological figure at 1.0700.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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