The EUR/USD pair loses traction around 1.0745 on Thursday during the early European session.
EUR/USD attracts some sellers near 1.0745 on the firmer USD on Thursday. The pair resumes its bearish stance below the key EMA, with an oversold RSI condition. The key support level is seen at the 1.0725–1.0730 zone; the first upside target is located at 1.0800. The hotter-than-expected US inflation data boosted the Greenback to yearly highs and exerted some selling pressure on the EUR/USD pair.
0730 region acts as a crucial support level for EUR/USD, Any follow-through selling will see a drop to the 1.0700 psychological level. The additional downside filter to watch is a low of November 9, 2023 at 1.0660, followed by a low of November 3, 2023 at 1.0615. On the upside, the first upside barrier will emerge near a low of March 22 and the round figure at 1.0800. Further north, the next target is seen around the 100-period EMA at 1.0825.
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