EUR/USD fluctuates in a tight channel at around 1.0850 after closing the third consecutive day in positive territory on Wednesday.
EUR/USD stays in a consolidation phase near 1.0850 after posting gains on Wednesday. The 200-day SMA aligns as key technical resistance at 1.0870. Markets await inflation data from the Euro area and the US. The near-term technical outlook suggests that the bullish bias remains intact but buyers could hesitate to bet on an extended uptrend unless the pair manages to clear the key technical hurdle at 1.0870.
0900 could act as interim resistance before 1.0940 . On the downside, first support could be seen at 1.0800 before 1.0750 and 1.0700 . Euro FAQs What is the Euro? The Euro is the currency for the 19 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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