The Euro (EUR) inched higher against the US Dollar (USD) on Friday, increasing the price of EURUSD to more than 1.2050 following some key economic events. The technical bias has however turned bullish because of a higher high in the recent upside rally. EUR/USD Technical Analysis

As of this writing, the pair is being traded near 1.2063. A hurdle may be noted around 1.2100 (a short-term horizontal resistance area as well as psychological number) ahead of 1.2176 (a major horizontal resistance) and then 1.2200 (the psychological number).

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