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EUR/USD Closes Under Moving Average

Discussion in 'Technical Analysis' started by Kaitlin, Feb 23, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    The pair dipped under the 200-day SMA yesterday, which reinforces our near-term bearish outlook on the Euro. The intraday rallies are now to be contained by a new resistance level at 1.1046, while the immediate target is a cluster of supports at 1.0972/54. There, solid demand is implied by the[​IMG]

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