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EUR/USD rebound presents selling opportunity
The EUR/USD is moving higher in early trade, with the pair hoping to make up for some of the losses seen earlier in the week. However, the four-hour chart below highlights the fact that this remains part of a wider bearish trend, where a move back towards trendline and 20-day simple moving average (SMA) resistance always seemed likely before long.
The one warning sign of a potential bullish reversal comes with the fact that this rebound is occurring around the $1.1554 swing low, which is an absolutely critical hurdle to overcome in forging a longer-term bearish story for EUR/USD. However, this trend remains in place unless we break above $1.1750. Until then, short-term upside looks like a selling opportunity.