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EUR/USD back at crucial resistance level
EUR/USD has regained ground to find itself back at the absolutely crucial $1.0462 resistance level. The shallow nature of this rally, set against the sharp deterioration on Friday makes it look like this could be a pause before we sell-off once more.
This bearish wedge pattern is expected to resolve to the downside, but with the huge support level in question, it could make sense for new shorts to only come with the break below $1.0400.