EUR/USD gained traction at the beginning of the week and closed in positive territory on Monday.
EUR/USD holds comfortably above 1.0700 following Monday's rebound. The near-term technical outlook highlights a lack of directional momentum. 1.0760 aligns as next resistance for the pair. In the European session on Tuesday, the pair strugglesto build on Monday's recovery and trades in a tight channel above 1.0700 as investors refrain from taking large positions, while waiting for the next significant catalyst.
0760 could be seen as next resistance before 1.0780 and 1.0800-1.0805 . Below 1.0730, 1.0670 aligns as next support before 1.0600 . 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.
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