Hourly Chart
EUR/USD traded lower after price failed to break 1.278 – 1.28 resistance zone. Currently price trading above L3, supporting price afloat together with the upward trendline that defines current rally/bullish retracement.
Break of L3 opens up L4 and L5 as potential downside targets.
Daily Chart
Price pulled back into the previous support zone after the false breakout a few days ago. Currently we are still trading within the support/resistance range and could see strong momentum either way if breakout on either side occurs.
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