EURUSD: Corrective Pullback Sets In!

EURO-Dollar-min

EURUSD: Corrective Pullback Sets In!

Outlook in EURUSD has turned neutral at the moment, the pair remains in a pullback mode as long as trades below the 1.2029 levels on a daily closing basis, support comes at the 1.1822 levels where a cut would open 1.1773 levels, further down, support comes at the 1.1730/1.1670 levels.

On the upside, resistance comes at the 1.1925 levels, a break would open 1.2029 levels, above this level will restore the upside momentum and will challenge the 1.2058/1.2069 levels.

Conclusion: The EURUSD continues to face pull back threats below the 1.2029 levels…

Note that medium term trend remains upwards above 1.1867 levels(weekly basis)…

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