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EUR/USD controlled by the buyers
After a consolidation session yesterday, there are now signs that the buyers are taking control here once again. The price is testing the water above yesterday’s high of $1.0890, with a move above here leaving it clear to test the $1.0906 high from late March. Above here the longer term view would suggest a move towards the downtrend line off the April 2016 highs in EUR/USD, in the direction of $1.10.
Yesterday bears failed to get the price below $1.0820, so this is their first task to begin a new move lower.
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