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EUR/USD: 34 Moving Average acted as resistance

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The 34 Moving Average has acted as resistance, so the price so consolidating. It's likely that the pair is going to reach the nearest resistance at 1.1627. A pullback from this level could be a departure point for a decline towards the next support at 1.1548 - 1.1526.

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The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.1619 - 1.1634. If a pullback from this area happens next, bears will probably try to reach another support at 1.1574 - 1.1548.

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