EURUSD Failing to Breakout higher

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The euro is posting only some modest gains on Tuesday as price rose over 0.50% intraday.

Following the breakout off the previous pivot highs near 1.0947, the euro stretched the gains to highs of 1.0971 before pulling back slightly.

However, as long as the previous level of 1.0950 holds, we expect the upside bias to hold.

The current momentum remains somewhat weak, which puts the upside gains towards 1.1030 into question.

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