The EUR/USD pair trades on a negative note during the early European session on Tuesday.
EUR/USD trades in negative territory near 1.0871 amid the cautious mood in Tuesday’s early European session. The pair keeps the bearish vibe below the key EMA; RSI indicator lies below the 50-midline. The first downside target is seen at 1.0852; the initial resistance level will emerge at 1.0882. The major pair moves in a narrow range between 1.0866 and 1.0876 as traders prefer to wait on the sidelines ahead of the Federal Reserve's interest rate decision on Wednesday.
0800 mark, representing the confluence of a low of February 22 and a psychological mark. A breach of this level will expose a low of February 20 at 1.0761, and finally a low of February 15 at 1.0725. On the other hand, the initial resistance level will emerge at the 100-period EMA at 1.0882. The critical upside barrier to watch for EUR/USD is the 1.0900-1.0905 region, portraying the 50-period EMA, psychological figure, and a high of March 18.
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