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EUR/USD rebounds into key resistance
Yesterday’s speech from Trump didn’t do us any favours from a technical view, negating much of the rebound we had seen for the dollar. In the case of EUR/USD, we can see that yesterday’s rebound counteracted the break below $1.0511, with price reaching a new 2017-high.
Crucially we are approaching the key $1.0655 resistance level, which has a good chance of holding. As such, it will be worth watching this level as a source of either breakout (an hourly close above $1.0655) or short-term reversal. In the case of a reversal, watch for shorter intraday reversal patterns and candles.