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EURUSD Narrows Gap With Key Resistance At 1.1033

EUR
  • The immediate pressure on the greenback following the US data has seen EURUSD pop higher and test above last week’s high at 1.0973. Overall, the pair maintains a bullish tone, reaffirming that the recent pullback appears to be a correction.
  • Resistance at 1.0930, the Mar 23 high marked a key short-term hurdle for bulls and a clear break reinstates the recent bull theme, signalling immediate scope for 1.1033, the Feb 2 high.
  • Above here, 1.1076, the Apr 1 2022 high, marks the next target for the move.

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