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EUR/USD consolidates around trendline resistance
EUR/USD has rallied back into the four-hour simple moving average (SMA) resistance overnight, with the pair remaining stuck between the descending trendline resistance and SMA support.
That trendline (dating back to June) is back in play now, and we would need to see a break through $1.1659 to signal an impending period of upside for the pair. As such, watch for a break above $1.1659 or below $1.1570 to provide direction for the near term.
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