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EUR/USD keeps on rallying
The steady rally goes on for EUR/USD, with the next level to watch being the bottom end of the gap down in late December 2014.
Yesterday saw support emerge at the 50-hour simple moving average (SMA) at $1.18, continuing the sequence of higher lows. Monday’s high of $1.1847 has yet to be taken out, but this seems just a matter of time. Dips towards the 50-hour and 100-hour SMAs tend to produce buying opportunities, so this is the eventuality to watch out for.