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EUR/USD retraces towards crucial support level
EUR/USD continues to drift lower, in what still looks like simply a deeper retracement set within a clear February uptrend. One worry is the bearish divergence between the MACD signal line and price.
However, unless we see price break and close below $1.1160, the bulls are expected to return for another move higher.
Resistance levels of note are at $1.1252, $1.1338 and $1.1376. Support levels in view should we see an hourly close below $1.1160 would be $1.1086, $1.1059 and $1.1000.