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EUR/USD bulls searching for a 1.2700 breakout - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that, technically, the EUR/USD is in bullish territory.

Key Quotes:

“Hourly chart shows 20 SMA advancing above 100, reflecting the short term bullish tone…indicators hold in positive territory, albeit lacking clear strength at the time being”.

“In the 4 hours chart momentum and RSI finally broke above their midlines and maintain an upward tone, while 20 SMA remains flat around 1.2620”.

“An advance above 1.2700 is still required to confirm a stronger upward move, with immediate resistance then in the 1.2740/50 price zone”.

“Support levels: 1.2625, 1.2600, 1.2570”

“Resistance levels: 1.2670, 1.2700, 1.2745”

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