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EUR/USD maintains weak tone - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD maintains its weak tone.

Key quotes:

“With the 1 hour chart showing price moving back and forth around a flat 20 SMA and indicators with a mild bearish slope in neutral territory, and the 4 hours chart presenting a strong bearish bias in its technical readings”.

“The pair has been facing some buying interest in the 1.2610/20 price zone lately, so once those bulls give up, the downside will be exposed to a quick slide towards 1.2570 price zone”.

“To the upside, the immediate short term resistance comes at 1.2660, with a break above it pointing for a retest of the 1.2700 figure as probable top for next Friday”.

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