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EUR/USD trading higher in range - FXStreet

FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik notes that EUR/USD is trading closer to the 1.2700 resistance level early in the US session.

Key quotes

"With no data to backup currencies’ movements, risk sentiment takes the lead, with easing concerns putting dollar under mild selling pressure."

"The EUR/USD hourly chart shows price above a bullish 20 SMA but indicators turning lower above their midlines, as gains remain limited."

"In the 4 hours chart price hovers around a flat 20 SMA as momentum continues to head south in negative territory, limiting chances of a firmer advance."

"A firmer advance beyond 1.2700 may see the pair approaching 1.2745, while risk to the downside will increase on a break below 1.2660 support now."

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