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May 29, 2020
EURUSD 1.1130 weekly resistance
The euro currency has surged to a new monthly high against the US dollar after bulls quickly broke through the 1.1030 resistance barrier yesterday. Technical analysis shows that a bullish reversal pattern on the lower time frame is currently at work. A further breakout above the 1.1100 level exposes more upside in the EURUSD pair towards the 1.1110 and finally the 1.1130 level.
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The EURUSD pair is only bullish while trading above the 1.0990 level, key resistance is found at the 1.1110 and 1.1130 levels.
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The EURUSD pair is only bearish while trading below the 1.0990 level, key support is found at the 1.0950 and 1.0930 levels.