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EURUSD News

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Last Updated Date: 12 May 2022 @ 5:55 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was up on Thursday morning in Asia as U.S. inflation eased less than expected, keeping the U.S. Federal Reserve on course to tighten monetary policy aggressively.

The failed test up around the 1.0585 resistance continues a turn back to short term bear trending action. Selloffs after the close has trade poised for a bear day and close under 1.0480 implies a bear wave to 1.0430. Any corrective congestion capped under 1.0550  -1.0570 should bear flag a setup for selloffs. A close over 1.0590 is needed to reject the downturn.

Resistance 2      1.0550
Resistance 1      1.0530
 

Support 1           1.0490
Support 2           1.0460





 
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