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EUR/USD Analysis: Strong support around 1.1250

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD pair clocked a high of 1.1342 levels on Thursday amid broad based USD weakness and moderate fall in the European stocks. Profit taking ahead of the weekend has pushed the spot to a low of 1.1281 levels in early Europe today. With no major data due for release, the pair remains at the mercy of the overall demand for the US dollars. Profit taking on USD shorts may keep the pair under pressure; however, rebound from technical support levels could be signal of fresh longs entering markets.

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