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EUR/USD Technical Analysis: Euro correcting higher from daily lows

  • EUR/USD is attempting a reversal up from the daily lows but is currently being capped by the 200-period simple moving average on the 15-minute chart.  
  • EUR/USD bears should break below the 1.1644 supply/demand level in order to take control of the market while bulls will need to reclaim prices above the 1.1685  intraday swing high and then the 1.1700 level.

EUR/USD 15-minute chart

Spot rate:              1.1674
Relative change:    -0.25%  
High:                     1.1721
Low:                      1.1650

Trend: Neutral

Resistance 1: 1.1685  intraday swing high
Resistance 2: 1.1700 figure
Resistance 3: 1.1730, 23.6% Fibonacci retracement from mid-April-May bear move

Support 1: 1.1644 supply/demand level
Support 2: 1.1600 figure
Support 3: 1.1550 demand level

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