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EURUSD News

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Last Updated Date: 2 February 2022 @ 8:04 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar fell for a second straight session on Tuesday, after hitting a 19-month peak at the end of last week, on weaker-than-expected U.S. economic data and after Federal Reserve officials pushed back against aggressive rate hikes this year, lifting risk appetite.

The market continues to extend a bottoming turn and should foster rallies to push against a 
previous congestion high at 1.1280. Posting a close over 1.1310 signals for a larger emerging bull drive to 1.1360. We may again see minor corrective dips into last week’s upswing, but narrow congestion days holding 1.1200 will bull flag. Only a close under 1.1136 (SAR) rekindles bear trend forces.

Resistance 2        1.1310
Resistance 1        1.1290

 
Support 1            1.1250
Support 2            1.1230


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