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EUR/USD Outlook: A Key Bearish Trend Line Is Forming With Resistance Near 1.1325

The Euro struggled to clear the 1.1350 resistance zone against the US Dollar. The EUR/USD pair is slowly moving lower and is trading below the 1.1320 level.

There was also a break below the 1.1300 zone and a close below the 50 hourly simple moving average. Besides, there is also a key bearish trend line forming with resistance near 1.1325 on the hourly chart.

An immediate resistance near the 1.1320 level and the trend line. A break above the 1.1320 and 1.1325 resistance levels could lead the pair towards the 1.1350 zone, above which the pair could rise towards the 1.1400 level.

On the downside, an initial support is near the 1.1280 level. The key support is near 1.1265 on FXOpen, below which there is a risk of a sharp decline. The next major support is near the 1.1200 level.

FXOpenhttps://www.fxopen.com/
FXOpen is a Forex and Cryptocurrency Broker, founded in 2005 by a group of traders. With over a decade of experience, the company has gained an excellent reputation a major Forex brokerage company that continues to expand rapidly. The broker offers MT4 and MT5 Forex trading with a wide range of trading instruments: 100+ FX, CFDs, Indices and Cryptocurrency pairs. FXOpen also provides its own PAMM technology allowing clients to benefit from the strategies of experienced traders with a proven track record of successful trading and guarantees automatic distribution of profit and loss between the strategy provider and the strategy followers.

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