This past week, the Euro revisited the 1.1200 support level against the US Dollar. EUR/USD remained well bid near 1.1200, formed a low at 1.1185, and now seems to be eyeing the next crucial break.
The pair is still trading nicely above the 1.1200 support, but it seems to be facing a strong resistance near 1.1280 and 1.1300. There is also a crucial bearish trend line in place with resistance near 1.1280 on the same chart.
A successful daily close below the 1.1200 and 1.1185 support levels may perhaps open the doors for a larger decline. In the mentioned bearish case, the pair is likely to decline towards the 1.1120 and 1.1100 levels.
The pair is still trading nicely above the 1.1200 support, but it seems to be facing a strong resistance near 1.1280 and 1.1300. There is also a crucial bearish trend line in place with resistance near 1.1280 on the same chart.
A successful daily close below the 1.1200 and 1.1185 support levels may perhaps open the doors for a larger decline. In the mentioned bearish case, the pair is likely to decline towards the 1.1120 and 1.1100 levels.
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