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Hi Friends,
The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias and keep printing new daily lows since July 31. The bias remains bearish in nearest term . The pair needs to break bellow 1.1500 region to the downside to resume the major bearish trend. Immediate resistance is seen around 1.1610. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 1.1500 would expose 1.1435/00 region or lower.
The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias and keep printing new daily lows since July 31. The bias remains bearish in nearest term . The pair needs to break bellow 1.1500 region to the downside to resume the major bearish trend. Immediate resistance is seen around 1.1610. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 1.1500 would expose 1.1435/00 region or lower.
