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EURUSD News

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Last Updated Date: 27 May 2022 @ 6:41 AM (UTC)
*Please note that all the dates are in GMT time zone

The U.S. dollar sank to a one-month low versus major rivals on Friday as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.

The EURUSD market is trying to start a bear downturn from recent sideways congestion. However, trade needs a close under 1.0637 to touch off bear trending selloffs under the 1.0556 swing low. Today’s spike higher over 1.0740 hints for a near term friendly upturn, but the down movement today leaves the pattern in congestion. A surge over 1.0770 is bullish again.

Resistance 2       1.0760
Resistance 1       1.0740

 
Support 1           1.0700
Support 2           1.0681


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