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EUR/USD pushes higher in retracement mode
EUR/USD has managed to move higher overnight, with the pair moving well past the short-term 76.4% retracement. Should the price rally up through the near-term swing high of $1.1616, then this would point towards a possible wider retracement of the $1.1691-$1.1554 sell-off.
Should that occur, then we would be looking at the $1.639-$1.1659 resistance zone (61.8%-76.4%) to come into play. As such, a bearish view remains unless the price breaks up through $1.1691.
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