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EUR/USD consolidates further
EUR/USD has been consolidating for a week now, with the attempted breakout on Thursday selling off from horizontal and SMA resistance. The strong downtrend coming into this current sideways price action means further selling is likely to be the resolution of this current price action. However, a clear break and close out of this range is needed to gain confidence that the trending market will resume once more. Thus a close below $1.0674 would look towards $1.052 as the next major support level, whereas a close above $1.0833 would point towards $1.0897 as the next major upside resistance.