EURUSD Forecast

The EURUSD continued its bearish pressure yesterday, bottomed at 1.2550 but closed higher at 1.2596. The bias is neutral in nearest term but the potential downside scenario by the rising wedge formation remains intact especially if price able to move consistently below 1.2550  today targeting 1.2465/80 support area. On the upside, consistent move above 1.2650 resistance area could be a serious threat to the bearish scenario testing 1.2720/50 region.

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