EURUSD – technical overview
This pair has extended to yet another 2016 high, closing in on the August 2015 peak at 1.1709. Still, there is a lot of solid medium-term resistance around 1.1500 and it will be interesting to see if the market can continue to hold above the barrier on a daily close basis. Inability to hold above 1.1500 will open the door to the possibility of another topside failure ahead of a fresh downside extension. Ultimately, a break back below 1.1217 would be required to officially take the pressure off the topside.

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