EUR/USD Price Analysis: The initial support level is seen at the 1.0800 mark
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EUR/USD is trading at 1.0817, gaining 0.09% on the day. The initial support level for the major pair is seen near a low of March 22 and a round figure at 1.0800. The immediate resistance level will emerge at the 100-period EMA at 1.0870. The US economy is expected to remain steady at 3.2% in Q4. The bearish outlook of EUR/USD remains unchanged as the major pair is below the key 100-period Exponential Moving Averages (EMA). The softer US Dollar provides some support to the major pair. The German February Retail Sales and the US Gross Domestic Product (GDP) annualized growth numbers for the fourth quarter are awaited for fresh impetus. The next contention level is located near the lower limit of the Bollinger Band at 1.0762. On the upside, the key upside barrier will emerge at the upper boundary of the Bollinger Band and a high of March 21 at the 1.0940–1.0945 region.
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