EUR/USD Set to Move Higher

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EUR/USD has hit a four-month low overnight after ECB President Christine Lagarde defended the stimulus measures being wary of possible side effects. EUR/USD is currently at a major support level the price might move up again. Also confirmed by the DXY (US Dollar Index) the market might see further bearish USD momentum which could confirm at least a retracement in the EUR to the upside.

As the market is currently trading rather in a range we could now see momentum towards the 1.1000 resistance area.

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