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EUR/USD regains ground after recent decline
EUR/USD has managed to regain some ground this morning, following a strong move lower earlier in the week. The pair has respected the 61.8% retracement thus far, which highlights the potential to begin moving higher from here.
There is a strong chance that this recent downturn will be short term, with the wider bullish theme likely to return before long. Therefore, while we could see further temporary downside, the likeliness is that the bullish theme will return soon enough. With that in mind, look at the 61.8% and 76.4% Fibonacci retracements as potential bullish reversal points. This view remains in place unless the price falls below $1.1817.