I assume that the USD could move higher soon.
EURUSD eventually reached the target of 1.07302 yesterday, the measured move from the break out of the rising wedge pattern. Price has now formed a falling price channel and looks to be currently testing the upper end of the channel. A test towards 1.0830 is evident and if successful as resistance, we could see further declines in the near term towards the target of 1.0605. However, should price break out of the falling channel and test back to the support at 1.07302, the view could shift to bullish upon break of the resistance at 1.0812
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