EURUSD is forming a cycle bottom at 1.2209 level on 4-hour chart. Range trading between 1.2209 and 1.2466 is expected in a couple of days. Support is at 1.2209, a breakdown below this level will confirm that the rise from 1.1876 has completed at 1.2466 already, then the following downward movement could bring price back to 1.2050-1.2100 area. Key resistance is at 1.2466, above this level will signal resumption of uptrend from 1.1876, then next target would be at 1.2700 or even 1.2800.
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