EUR/USD Price Action: Key Levels to Watch

EUR/USD is currently trading in a range between 1.0516 and 1.1096.

The price has failed to meaningfully challenge the topside of the range in recent weeks.

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The 78.6% Fibonacci retracement of the move from 1.1096 to 1.0635 is at 1.0997.

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A break above 1.1096 could signal a resumption of the bullish trend.

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A break below 1.0831 could confirm a double top and could lead to a decline to 1.0516.

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The price is above the 21-, 34-, 55-, 100-, 200- and 260-day simple moving averages (SMA).

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The price is oscillating around the 10-day SMA.

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A reacceleration above the 10-day SMA could suggest that bullish momentum could evolve further.

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The market trend for EUR/USD today is range-bound.

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