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EUR/USD Weakening

Swissquote Bank SA
By Swissquote Bank SA

EUR/USD bearish pattern started from 1.24 (19/04/2018 high) continues, currently trading below 1.20 and heading along the 1.1970 range. The pair is currently trading at mid-January 2018 low. Hourly support and resistance are given at 1.1812 (25/12/2017 low) and 1.2323 (17/01/2018 high). The technical structure suggests shortterm downward moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
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