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Eur/usd technical analysis 30-7

Euro has been rallying since the winning of macron over le pen . Closing above 1.0780$ then cleared the path for eurusd to 1.14$ and then tackling it to reach 1.1770$ so far.

Would we see any retracement for the pair anytime soon?

You can not tell and going against the trend will always put you in bad positions .

So , technically euro would find support at 1.1703$ followed by 200 MA on the hourly chart which currently lies at 1.1650$ followed by the famous 1.1580$

On the other side , next resistance lies at 1.1740$ , followed by 1.1770$ and then multi year low 1.1860$

Fundamentally speaking ,the eurozone is still recovering and the pair is trading at fair value .

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