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EURUSD News

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Last Updated Date: 24 May 2021 @ 5:54 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was up on Monday morning in Asia but remained near its lowest level in three months. Investors remain concerned that the U.S.’ continuous economic recovery from COVID-19 could lead to a slowdown of U.S. stimulus measures earlier than expected.

Last Friday’s drop off signals a short term turn back to the prevailing bear trend of previous months and should continue to foster an attack under the 1.2130 swing low. A close under 1.2130 projects a larger bear wave to 1.2067. A reluctance to stay under 1.2130 may prompt rebounding action, but trade needs a close over 1.2190 to renew a bottoming formation.

Resistance 2      1.2210
Resistance 1      1.2190

 
Support 1           1.2150
Support 2           1.2130


 
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