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EUR/USD moving higher after retracement
EUR/USD has been moving higher this morning, following a pullback on Friday. Clearly, we are trading within the upper echelons of a rising channel, yet as long as we continue to create new highs and higher lows, the short-term uptrend remains in play.
The next big bullish hurdle to overcome is $1.0829, where a break above would provide a significantly more positive medium term picture. An hourly close below $1.0727 would provide a bearish short-term view, where the pair could begin to move back towards trendline support.