{"id":17231,"date":"2023-03-27T10:28:42","date_gmt":"2023-03-27T10:28:42","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=17231"},"modified":"2023-03-27T10:28:42","modified_gmt":"2023-03-27T10:28:42","slug":"eur-usd-approaches-key-support-dollar-could-resume-losses","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/eur-usd-approaches-key-support-dollar-could-resume-losses\/","title":{"rendered":"EUR\/USD Approaches Key Support, Dollar Could Resume Losses"},"content":{"rendered":"

EUR\/USD Approaches Key Support, Dollar Could Resume Losses<\/h1>\n

EUR\/USD started a downside correction from the 1.0930 level.
\nIt traded below a key bullish trend line with support at 1.0810 on the 4-hours chart.
\nGBP\/USD<\/strong><\/a> is consolidating gains above the 1.2200 support zone.
\nUSD\/JPY extended losses below the 130.50 support zone.<\/p>\n

EUR\/USD\u00a0<\/strong><\/p>\n

The Euro started a major increase above the 1.0750 resistance against the US dollar. EUR\/USD even climbed above 1.0900 before it started a downside correction.<\/p>\n

Looking at the 4-hours chart, the pair traded as high as 1.0929 before it faced sellers. There was a drop below the 1.0850 and 1.0820 support levels. The pair even traded below a key bullish trend line with support at 1.0810.<\/p>\n

However, the pair is still above the 100 simple moving average (red, 4-hours) and the 200 simple moving average (green, 4-hours). On the downside, an immediate support is near the 1.0750.<\/p>\n

The next major support is near the 1.0720 level, below which there is a risk of a move towards the 100 simple moving average (red, 4-hours). Any more losses might open the doors for a fresh decline towards the 1.0520 level.<\/p>\n

An immediate resistance on the upside is near the 1.0820 level. The first major resistance is near the 1.0850 level. The next major resistance is near the 1.0865.<\/p>\n

A clear move above the 1.0865 resistance might send the pair towards the 1.0920 zone. Any more gains might send the pair towards 1.0980 or even 1.1000.<\/p>\n

Looking at GBP\/USD, the pair is holding gains above the 1.2200 level and might attempt a fresh increase in the near term.<\/p>\n","protected":false},"excerpt":{"rendered":"

EUR\/USD Approaches Key Support, Dollar Could Resume Losses EUR\/USD started a downside correction from the 1.0930 level. It traded below a key bullish trend line with support at 1.0810 on the 4-hours chart. GBP\/USD is consolidating gains above the 1.2200 support zone. USD\/JPY extended losses below the 130.50 support zone. EUR\/USD\u00a0 The Euro started a<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":17232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[94,265,267,296,19,35,320,157,30,277,201],"yoast_head":"\r\nEUR\/USD Approaches Key Support, Dollar Could Resume Losses<\/title>\r\n<meta name=\"description\" content=\"The Euro started a major increase above the 1.0750 resistance against the US dollar. 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