EUR/USD Price Analysis: Remains capped below the 1.0600 mark, all eyes on ECB rate decision

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EUR/USD Price Analysis: Remains capped below the 1.0600 mark, all eyes on ECB rate decision
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The EUR/USD pair snaps a two-day winning streak during the early European session on Monday. Market players await the European Central Bank (ECB) Inte

EUR/USD remains capped under the 1.0600 barrier ahead of the key events. A key resistance level is located at the 1.0600-1.0610 region; the initial support level is seen at 1.0566. The Relative Strength Index is in the 40-60 zone, suggesting a lack of direction. rest Rate Decision on Thursday, with no rate change expected.

0635 . The additional upside filter to watch is 1.0671 , followed by 1.0735 . On the downside, the initial support level for EUR/USD is seen near the 50-hour EMA at 1.0566. The critical contention will emerge at 1.0525, portraying a low of October 18 and a lower limit of the Bollinger Band. Further south, a round figure at 1.0500 will be the next downside stop. A breach of the latter will see a drop to 1.0450 .

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