The US dollar was
seen slightly elevated this morning, following the
US Presidential debate last night. But the EUR/USD pair is still under
pressure as almost
lost all gained during the previous session. As clearly seen on the 4-hour
chart, the pair is staying above the 50-day, 100-day and 200-day moving
averages and cannot find enough strength to set direction.
First support is located at 1.1200 and if the drop extends to
eventual daily close below, this could trigger further bearish pressure for
testing next support at 1.1125. Looking upwards, the EUR/USD pair will
definitely need to strengthen in order to overcome the resistance located at
1.1275. Only bulls will be able to bring back their power and set next target
to the 1.1350.
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