EUR/USD is on track for a price increase

The EUR/USD pair is approaching the 1.0394-1.0382 support zone on the hourly timeframe after a decline. This area is considered a valid and important support due to the intersection of key Fibonacci levels (50% and 61.8%) and previous strong reactions.

The price reaction to this support area indicates the presence of buyers and their desire to return the price to higher levels. If the price can hold this level, a move towards the resistances of 1.0513 and then 1.0618 is not far off in the short term.

On the other hand, a clear break of this support range (1.0394-1.0382) could lead to increased selling pressure and a drop to lower levels. Traders should pay attention to the reaction of the candles in this range as well as volume indicators to make better decisions.