EUR/USD:A lower top is sought out below this key short-term resistance, to be confirmed on a break back below 1.2585 over the coming days. While a break back above 1.2925 would delay our bearish outlook, it will not force a shift, with additional rallies then seen well capped ahead of 1.3100. Nevertheless, overall price action remains quite choppy and we do not recommend any positions in either direction at current levels.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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