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EUR/USD pressuring the daily high – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet notes the EUR/USD pair advancing with slow and steady moves as it trades around the daily high of 1.2548.

Key Quotes

“Technically, the 4 hours chart shows a slightly positive tone as per price holding above its 20 SMA, albeit indicators stand in neutral territory, giving no clues on upcoming direction.“

“The high around 1.2570 remains as the critical resistance level to overcome to confirm an extension of current upward corrective movement, with 1.2620 and 1.2660 as next intraday resistances and probable targets.”

“Intraday lows around the 1.2500 figure from this week, suggest price needs to accelerate below the level to gain some bearish track, targeting then 1.2440/60 price zone.”

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