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EUR/USD tests trendline resistance
EUR/USD has managed to rally into trendline resistance at the start of the week, with the recent descending channel coming into question once more.
Given the wider uptrend in play, the bullish breakout signal we are looking for is an hourly close above $1.1205. Until then, the channel remains in play and thus we could start to see the pair come off somewhat. An hourly close below $1.165 would point towards a move into the lower end of the channel ($1.1114).