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Todays EUR USD Analysis
We mentioned yesterday that it would not be out of the ordinary to expect a move to the support and 12 month up trend at 1.4684 so after hitting a low of 1.46835 in early Asian trading we have seen a bounce back above 1.4740. This means that the pair has now completed a perfect a‐b‐c correction and the bulls are likely to gain confidence with the US GDP and other data pointing towards good economic growth. Expect the first major resistance at 1.4876.
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