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EUR/USD continues to grind higher
EUR/USD is breaking through the key resistance at $1.1230 this morning, which provides a bullish short-term signal. This is no doubt a countertrend move, yet the retracement higher seems likely to persist for the short-term.
Key resistance levels are found at the 61.8% ($1.1250) and 76.4% ($1.1266) Fibonacci retracements. Shorts are preferred around those levels for a continuation of the downtrend over the past three weeks.
Key near-term support levels are found at $1.1218 and $1.1180.