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Hi Friends! ,
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term probably with a little bullish bias.The major trend is bearish but price has been trapped between 1.1720 – 1.1510 range area for more than two weeks now. Immediate support is seen around 1.1630. A clear break below that area could trigger further bearish pressure testing 1.1590 region. On the upside, a clear break and daily close above 1.1720 would expose 1.1850 key resistance area. On the downside, we need a clear break below 1.1510/00 region to resume the major bearish trend testing 1.1350/00 area.
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term probably with a little bullish bias.The major trend is bearish but price has been trapped between 1.1720 – 1.1510 range area for more than two weeks now. Immediate support is seen around 1.1630. A clear break below that area could trigger further bearish pressure testing 1.1590 region. On the upside, a clear break and daily close above 1.1720 would expose 1.1850 key resistance area. On the downside, we need a clear break below 1.1510/00 region to resume the major bearish trend testing 1.1350/00 area.
