The EURUSD continued its bearish momentum on Friday, bottomed at 1.2259 and closed at 1.2284. The bias remains bearish in nearest term testing 1.2200 – 1.2150 support area. Immediate resistance is seen around 1.2350/60. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400/35 but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase with sell on rallies strategy. The current bearish intraday outlook can only be stopped by a movement back above 1.2550.
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