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EUR/USD weakening from Fibonacci resistance
EUR/USD is drifting lower in the wake of a rally into the 76.4% retracement at $1.1771. Following a rally above $1.1721-$1.1727, there is a growing story of a potential bullish break, with a rise above $1.1852 providing greater confidence of such a move.
With the initial respect of the Fibonacci retracement, there is a chance of a weaker picture coming into play for the near term should we fall below $1.1690.
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