The EUR/USD pair attracts some buyers for the third successive day on Thursday and climbs to a one-and-half-week top, closer to mid-1.0800s during the Asian session.
EUR/USD trades with a positive bias for the third successive day on Thursday. The Fed rate cut uncertainty continues to weigh on the USD and lend support. The technical setup warrants caution for bulls and positioning for further gains. The US Dollar extends this week's corrective decline from the highest level since February 14 amid the uncertainty over the Federal Reserve’s rate cut path.
The EUR/USD pair might then surpass the 1.0900 mark and test the next relevant resistance near the 1.0920-1.0925 area before eventually climbing to the 1.0950 supply zone. The momentum could extend further towards the March monthly swing high, around the 1.0980 level, en route to the 1.1000 psychological mark. The latter should now act as a key pivotal point. On the flip side, weakness below the 38.2% Fibo. level, around the 1.0825-1.0820 region, now seems to find some support near the 1.
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