Further gains should reclaim 1.0800 and beyond. – Crypto News – Crypto News
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EUR/USD builds a cushion around 0.9940, downside looks likely ahead of German/US PMIs EUR/USD builds a cushion around 0.9940, downside looks likely ahead of German/US PMIs

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Further gains should reclaim 1.0800 and beyond. – Crypto News

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  • EUR/USD corrects lower following new monthly peaks near 1.0790.
  • More advances are expected to reclaim the area above 1.0800.

EUR/USD faces some renewed downside pressure and gives away part of Thursday’s strong move to the vicinity of the 1.0800 figure.

A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0787 (June 8) closely followed by the round level at 1.0800, which appears propped up by the transitory 100-day SMA, today at 1.0807.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0518.

EUR/USD daily chart

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