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EUR/USD Bull Recovery Remains Intact But With Caution

EUR/USD Bull Recovery Remains Intact But With Caution

EUR/USD bull recovery remains intact as more strengthen is envisaged. However, with price hesitation seen on Friday that strength may subside a bit. On the upside, resistance comes in at 1.1600 level with a break through there opening the door for more upside towards the 1.1650 level. Further up, resistance lies at the 1.1700 level where a break will expose the 1.1750 level. Conversely, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. All in all, EUR/USD still faces further upside pressure on corrective recovery.

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