EUR/USD is losing back its recovery gains from yesterday and is heading downward. Hourly support and resistance are maintained at 1.2165 (17/01/2018 low) and 1.2434 (06/02/2018 high). The technical structure suggests further downside moves.
In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).
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