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Back Technical analysis
EUR/USD: December 12th. The Market Awaits the ECB Verdict
On Wednesday, the EUR/USD pair tested
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On Wednesday, the EUR/USD pair tested the 323.6% Fibonacci retracement level at 1.0532 twice and then fell slightly. However, on Thursday morning, the pair returned to this level. A new rebound from 1.0532 will favor the U.S. dollar, potentially pushing the pair down toward 1.0420. Consolidation above 1.0532 could signal a slight upward movement toward the next Fibonacci level of 261.8% at 1.0662. It's worth noting that the pair has been trading horizontally in recent weeks.
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