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EUR/USD finds SMA support
Yesterday’s early EUR/USD weakness failed to last, with the pair falling down to the 200-hour simple moving average before breaking higher once more. This provides a more bullish picture for the pair given that we are seemingly moving away from a period of consolidation and towards the uptrend that characterized the end of March.
However, we are yet to see this pair really trend once more and thus choppiness is likely to remain until we break free from this zone. Therefore the $1.1438-$1.1454 range will be pivotal as a potential area of resistance today.