EUR/USD's recovery from 1.2625 extends further today and further rise might be seen. But still, near term outlook will remain bearish as long as 1.2878 resistance holds. Below 1.2624 will extend current fall to 100% projection of 1.4939 to 1.3145 from 1.4246 at 1.2452 next. However, above 1.2878 will indicate short term bottoming, with bullish convergence condition in 4 hours MACD and bring stronger rebound back above 1.3076 resistance.
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