Euro on track towards 1.1200 handle

The euro currency maintains a strong bullish momentum, with price action surging close to one percent on Friday.

The common currency closed at 1.1132 and is now likely to challenge the 16th March levels near 1.1200.

But given the sharp rebound, there is scope that the euro could slip back to form a floor in the near term.

This could occur near the recently cleared 1.1055 level which served as resistance.

Above 1.1200, the EURUSD will likely hit the dynamic resistance of the long term trend line.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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