EUR/USD: A break above this level will delay bearish outlook and likely open a fresh upside extension towards 1.3030. However, any additional gains from there are seen limited, with the greater likelihood for a bearish resumption. For now, 1.2775 is the key level to watch below with a break back below this level required to put the focus back on the downside.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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