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EUR/USD fails to move above 1.2500 - UOB

FXStreet (Barcelona) - The Research Team at UOB see EUR/USD failing to move above 1.2500 level and view the pullback as a part of a consolidation phase.

Key Quotes

“EUR failed to move above 1.2500 once again but the subsequent pull-back is still likely part of a consolidation phase instead of the start of the next down-leg.”

“Short-term key level is at 1.2390/95 and only a move below this level would indicate a move towards 1.2355 followed by 1.2295. The trailing stop has moved lower to 1.2520 from 1.2560.”

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