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Technical Analysis

EUR/USD Fading Momentum

Typography

EUR/USD failed to test resistance at 1.1878 (12/10/2017 high). Strong support is given at a distance at 1.1662 (17/08/2017 low). Expected to show some short-term consolidation.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

Author: Swissquote Bank SA Website: http://en.swissquote.com/fx
Swissquote Bank SA
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