The EUR/USD pair is in a new down-trend which will probably extend lower. The current bearish count on the 5-pip chart is 1.3265, but there is also a longer-term target at 1.3070. A break below 1.3315 or the 1.3295 lows would provide bearish confirmation of a continuation lower. Any further upside is currently capped by an old trend-line, but if there is a break higher then it will probably only reach as high as 1.3400 where there is a cluster of particularly strong resistance levels which are likely to prevent it from rising any higher.
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