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 fallingprice 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 seefurther 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 at1.07302, the view could shift to bullish upon break of the resistance at 1.0812
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 fallingprice 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 seefurther 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 at1.07302, the view could shift to bullish upon break of the resistance at 1.0812
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