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In the previous EUR/USD forecast we noted that the currency pair did not manage to clear the middle bollinger band. It had since turned bearish and dipped below 1.1 which is a significant support and resistance area.
Technical Analysis
Looking at the EUR/USD weekly chart above we note that the currency pair tested the 1.14 resistance and failed to gain a foothold. It has since eased back to to the 1.11 support and resistance region as mentioned previously.