EUR/USD stays in a consolidation phase slightly above 1.0750 in the European morning on Tuesday after posting small gains on Monday.
EUR/USD fluctuates in a narrow channel slightly above 1.0750 early Tuesday. The pair needs to clear 1.0790-1.0800 hurdle to push higher. Risk perception and comments from central bank officials could drive the pair's action. The pair's near-term technical outlook points to a loss of bullish momentum. In the absence of high-tier data releases, EUR/USD struggled to find direction on Monday.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
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