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Will EUR/USD rally break through Fibonacci resistance?
Yesterday saw EUR/USD sell-off from the 76.4% retracement, providing a clue that we could be due a pullback in the coming days. This morning we are seeing early strength, pointing towards a potential rally back up to that Fibonacci resistance.
Whether or not we see price break through the $1.1115 level will dictate the state of play, as this would be a warning sign that we could be due to move onwards to the key $1.1165 level.
As such, a bearish view remains in place with a more neutral outlook should we see a break through the $1.1115 level.