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EUR/USD heading higher, yet resistance awaits
EUR/USD is enjoying a blockbuster week, with pullbacks being bought into.
However, while the short-term picture remains bullish, it is worth noting that we have a massive resistance level up ahead in the form of the August 2015 high at $1.1715. A break through there would provide a new 30-month high, alongside a strong chance of a bullish range breakout on the long-term picture. A move below $1.1616 would negate the short-term bullish outlook.