EURUSD: Bulls Break Above Key Trend Line
EURUSD took out falling trend line resistance connecting major highs since late April, suggesting the broadly bearish implications of recent positioning have been overturned. With that in mind, entering long at current levels is not compelling with the perched just ahead of familiar pivot at 1.4537, a level that has acted as both support and resistance over recent months. As such, we will remain on the sidelines for now. A break above 1.4537 exposes 1.4695, the June 7 wick high.
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