EURUSD backs off from topside resistance target ...Middle East

The EUR/USD began the U.S. session near the 38.2% retracement level of the decline from the November high, at 1.05628. After an initial reversal to the upside, the pair climbed toward the swing area between 1.05926 and 1.06097, peaking at 1.05937 before sellers regained control. Resistance held firm, and the price has since retreated.The focus now shifts back to the 38.2% retracement at 1.05628 as a key support level. A break below this level would bring the 100- and 200-hour moving averages, both near 1.0543, into play. Further declines could target the 100-bar moving average on the 4-hour chart, which sits at 1.0531.If these levels are breached, it could open the door for additional downsi

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