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EUR/USD: technical view

EUR/USD is trading close to session lows around $1.3340 after hitting fresh 3-month highs at $1.3390. Yesterday euro dipped to $1.3265, but closed the day above the $1.3300 hurdle. This figure acts as a key support for now, so we remain clearly bullish above it. Be careful, however: there is a MACD divergence on H4 chart, so a correction to $1.3265 (23.6% Fibo) is possible. Next support is seen at $1.3250, $1.3200 and $1.3175.

Rise above $1.3400 would be a positive sign and confirm the continuation of an uptrend. Danske Bank analysts bought the pair at $1.3307 with a target of $1.3435 and a stop at $1.3265.

Today’s euro zone’s economic calendar is quite empty. Watch the US retail sales and unemployment claims at 12:30 GMT. 

Chart. H4 EUR/USD


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