EUR/USD closed higher on Monday and above the 20-day moving average crossing confirming that a short-term low has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, March's high crossing is the next upside target. If it renews this year's decline, the 75% retracement level of the 2009-rally crossing is the next downside target.
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