EUR/USD: Technical Analysis

Eurodollar is still in a short-term up-trend and it will probably continue higher, with trend-line resistance at 1.2900 possibly providing an upside target. Nevertheless, watch-out for resistance from the 50-day moving average at 1.2835 which could also repulse price. On the downside it would need a break below the 1.2750 mark for the outlook to turn bearish again.

Analysis by: Joaquin Monfort
Forex4you analyst

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