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EUR/USD Technical Analysis: Rebound could extend to the 1.1280/90 area

  • EUR/USD continues it march north so far today, although initial resistance has emerged around 1.1250, promoting some daily correction.
  • If the selling impetus picks up extra pace, the next target of relevance will be the 1.1280/90 band, where sit late-July tops.
  • Above this area, the selling pressure is expected to ease and could allow for a potential move to the key 200-day SMA just below 1.13 the figure.

EUR/USD daily chart

 

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