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The next resistance is at 1.1917

  • EUR / USD has quickly passed the initial barrier at 1.1830.
  • Looking up, the pair is now targeting 1.1917 (September 10 high).

The buying bias around the EUR / USD remains firm on Wednesday, managing to hit new multi-week highs around 1.1870.

As long as the bulls stay in control, the next intermediate target is at the September 10 high near 1.1920, before targeting the August high at 1.1965. Another visit to the 2020 high, above the critical level of 1.20, is not favored at this time

Looking at the broader outlook, the bullish view for EUR / USD is expected to remain unchanged as long as the pair moves above the 200-day SMA, today at 1.1289.

EUR / USD daily chart


Credits: Forex Street

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