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EUR recovers - UOB

FXStreet (Barcelona) - The Research team at UOB Group see a recovery ahead in EUR/USD towards 1.2615 followed by 1.2735.

Key Quotes

"The two-week long bearish phase has likely ended with the move above 1.2520 last Friday. Not only has Daily MACD moved back into positive territory, oversold Weekly charts warn of a more significant recovery."

"The target for the next 1 to 2 weeks is 1.2615 followed by the middle of the Daily Envelope at 1.2735."

"Only a daily close back below 1.2400 would indicate that the bullish view is wrong."

EUR/USD dips below 1.2500

The shared currency has accelerated its drop vs. the greenback on Monday, now pushing EUR/USD back below the 1.2500 key support...
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