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EUR/USD retracement could be over
EUR/USD is rallying up to yesterday’s high of $1.2454, with a break through that area pointing towards a possible bullish resurgence after the recent pullback.
The ability to post an hourly close above that level will determine the outlook for the pair going forward. Should that occur, we would be looking at the confirmation of a higher low, which would provide a bullish signal of note, when accompanied by a new high.