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The resistance levels of EUR/USD 1.2220, 1.2300, and the bulls need to close above 1.2300 to confirm bearish pressure easing. In general, a close above 1.2375 will confirm a breakthrough 21 day moving average 1.2340 and shift the focus to the levels of resistance in the 1.2430, 1.2600. While 1.2300 constrains bulls, bears will continue to focus on the minimum of 2012 and the lower boundary of Bollinger, although oscillators close to oversold.
