The EUR/USD pair trades in positive territory around 1.0560 during the early European session on Tuesday.
EUR/USD gains ground to near 1.0560 in Tuesday’s early European session. The negative view of the pair prevails below the 100-day EMA with a bearish RSI indicator. The first downside target to watch is 1.0480; the immediate resistance level emerges at 1.0623. However, the upside for the major pair seems limited amid the rising bets for additional reductionsby the European Central Bank on Thursday.
20, indicating that the path to the least resistance level is to the upside. The initial support level for the major pair emerges at 1.0480, the low of December 3. Any follow-through selling below the mentioned level could expose the lower limit of the Bollinger Band at 1.0445. Extended losses could push prices lower toward 1.0332, the low of November 22. On the upside, the first upside barrier is seen near the upper boundary of the Bollinger Band at 1.0623.
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