The EURUSD continued its bearish momentum yesterday, closed below 1.2947 and hit 1.2886 earlier today in Asian session. The bias is bearish in nearest term testing January low at 1.2873. A clear break and daily close below that area could trigger further bearish scenario testing 1.2800 – 1.2750 support area even lower. Immediate resistance is seen around 1.2947 (former support/low). A clear break back above that area could lead price to neutral zone in nearest term testing 1.3050/70 but any upside pullback now is normal and overall I remain bearish on this pair with sell on rallies strategy.
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