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EUR/USD bounces from crucial support level
EUR/USD managed to rally from the crucial $1.1202 support level yesterday, after a sharp move lower threatened to provide a more bearish signal. An hourly close below that level would provide a short term bearish signal.
Conversely, an hourly close above $1.1285 would signal that the uptrend looks set to continue, negating the fact that we are no longer creating higher lows.
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