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Analysis of EUR/USD Price: Bulls Anticipate Confirmation above one hundred-hour SMA and 50% Fibonacci Confluence

 The EUR/USD pair has visible a slight growth in cost, accomplishing a three-day excessive round of 1.0935 at some point in the Asian session on Tuesday. However, it has struggled to keep momentum above the one-hundred-hour Simple Moving Average (SMA) and has retreated barely within the closing hour.



The US Dollar (USD) has been weakening for the past two days, which has furnished help for the EUR/USD pair. Nevertheless, the USD’s decline has been restrained by the Federal Reserve’s (Fed) hawkish stance, which prevents substantial profits for the essential forex. Traders also are hesitant to make sturdy bets at the euro due to worries about monetary headwinds as a consequence of growing borrowing expenses. The launch of disappointing flash Eurozone PMIs on Friday has in addition fueled these concerns, leaving the European Central Bank (ECB) facing a policy catch-22 situation.

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