The EUR/USD pair continues to play it safe within a tight range, stuck between the resistance at 1.1188 and support at 1.1068. This sideways movement could be seen as a consolidation phase for the ongoing uptrend initiated from 1.1001. As long as the 1.1068 support holds firm, we might expect another attempt to breach the 1.1188 resistance.
If the pair succeeds in pushing above 1.1188, it could signal the resurgence of the uptrend, with 1.1250 and possibly 1.1300 as next targets. However, initial resistance needs to be cleared at 1.1145 before taking aim at 1.1188.
Conversely, a dip below the 1.1068 support could pave the way for further declines, targeting the next support at the 1.1040 area and possibly revisiting the previous low of 1.1001.
Keep an eye on these key levels as the market charts its course. Stay tuned for updates as we watch how this trading scenario unfolds!
by ForexCycle
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