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EUR/USD rebounds from key support
Yesterday saw EUR/USD fall back to the $1.0563 support level, only to rally higher once more. This remains a period of uncertainty, where an hourly close above $1.0686 would provide a bullish signal, whereas a break below $1.0563 would point towards further losses for the pair.
Given the recent downfall of EUR/USD, further losses are certainly a strong possibility. However, some form of retracement could be sizeable given the deterioration in recent weeks.
As such, it makes sense to await a break through resistance or support to provide greater clarity of the next move.