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EURUSD currency pair recently reversed up from the major support area located between the key support 1.171000 (former multi-month low from March) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor correction (ii). Given the strength of the aforementioned support area – EURUSD currency pair can be expected to rise further toward the next resistance level 1.18000 – followed by the key resistance level 1.19000.
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