The EURUSD had a bearish momentum yesterday and hit 1.3539 earlier today. The bias remains bearish in nearest term. The major bullish outlook should remain valid but price is now testing key support located around 1.3500 – 1.3450 and the lower line of the bullish channel as you can see on my daily chart below. A clear/strong break and daily/weekly close below the key support could be an early signal of a major bearish reversal scenario. Immediate resistance is seen around 1.3600. A clear break above that area could lead price to neutral zone in nearest term testing 1.3650 – 1.3700 area which need to be clearly broken to the upside to give the bullish scenario another chance.
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