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Despite pullback EUR/USD likely to turn higher
EUR/USD is moving lower this morning, bringing the price towards the 61.8% Fibonacci retracement.
Given the clear uptrend in place over the short term, there is a strong likeliness that the price will turn higher once more in the near term. The middle Bollinger band 20-simple moving average (SMA) is also coinciding with this area of support, adding to the notion that the pair will soon turn higher. A break below $1.2345 would be required to negate this bullish outlook.