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Forex News from New Forex: Technical analysis of EUR/USD

On Tuesday, July 5, the pair EUR/USD trades within the level of support at 1.1122 and resistance at 1.1165. On a 5-minute chart we see that the price bumped into a strong resistance at the start of the Asian session. Bearish sentiment is getting stronger. According to NewForex analysts, to make the right decision regarding this pair it’s preferable to wait for the breach of the strong support levels as signals of the MACD indicator and the Stochastic are not firm enough at the moment.

NewForex Analyst

Michael Butnitsky

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