On Tuesday Euro/Dollar increased with narrow 65 pips. The European currency appreciated from 1.3328 to 1.3396 yesterday, matching the positive money flow sentiment at over +5%, closing the day at 1.3385. This morning the Euro lifted even slightly further, reaching 1.3434.
On the 1 hour chart the upward channel has turned into range trading, while on the 3 hour chart the upward channel is on hold. Break above the nearest resistance and today's top at 1.3434 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3328, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3213.
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