EURUSD Forecast

The EURUSD continued its bearish momentum yesterday, hit a fresh 3 month low at 1.2910 and closed at 1.2934. The bias remains bearish in nearest term still testing 1.2880/50 region. Immediate resistance is seen around 1.2985 – 1.3000. A clear break above that area could lead price to neutral zone in nearest term testing 1.3042/64 but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase.

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