EUR/USD Classical Technical Report 12.05
EUR/USD: Remains locked in some consolidation following the bounce out from 1.3200. The key levels to watch above and below come in at 1.3550 and 1.3360 respectively and a daily close above or below will be required for a clearer short-term directional bias. A break and close back above 1.3550 will suggest that the market is still in the process of correcting and could head back into the 1.3800 area, while a break and close back below 1.3360 will open the door for a bearish resumption and retest of the key October lows at 1.3145.
--- Written by Joel Kruger, Technical Currency Strategist
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