EURUSD broke below an ascending channel a little while ago having consolidated following the Fed-driven rally on Thursday.
Based on the size of the channel, the break could prompt a move back towards 1.1340 which happens to coincide with a previous resistance level and the 50% retracement of the move from Wednesday’s lows to today’s highs.
The broader trend is still currently bullish and therefore this could be a significant level of support. A rebound off here is quite a bullish signal and suggests the trend remains very much intact.
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