Forex Trading Library

EURUSD trades flat as trend line is broken

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The euro currency is consolidating after price action closed below the trend line in the previous session.

However, with prices trading rather flat, there is scope for a rebound back above the trend line.

In the near term, the price level of 1.0818 will be acting as resistance and a breakout above this level could see buyers pushing the euro higher.

To the downside, if prices continue lower, then we expect a move down to the 1.0662 level where support will form.

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