In The EUR USD Keep An Eye On The 1.05155 Level
EUR/USD Currency Pair Overview
In the EURUSD, keep an eye on the 1.05155 level.
That level indicates the 50% midpoint of the pair's 2022 trading range.
Earlier this week, the price fell to test that level and found buyers. A move below should result in more selling pressure. Moving below the November swing highs at 1.047981 would assist to solidify the downward bias.
For bullish/bearish bias purposes, the 50% level is frequently used as a pivot. As a result, it is one of those technical levels to keep an eye on and watch for indications. Traders will look for momentum in the direction of the break if it is broken.
Hold, and there might be a rebound like the one saw on Tuesday.
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