FBS Markets Inc.

EUR/USD: 34 MA acted as resistance

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The 34 Moving Average has acted as resistance, but there's still no any reversal pattern. Therefore, the market is likely going to test the 144 MA, which could be a departure point for a bullish price movement towards the nearest "Window".

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There's support by the lower "Window", so we could have a local upward correction in the coming hours. Nevertheless, bears are likely going to deliver a new local low afterwards.

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