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EUR/USD Recovers Early Day Losses
EUR/USD reversed at the North American open and has wiped losses from earlier in the day. The reversal took place slightly ahead of a confluence of support and on a 4-hour chart, the pair is on pace to post a bullish engulfing candle. The currency pair turned slightly ahead of support at 1.1922 which was resistance towards the start of the month. The horizontal level also falls within proximity of a rising trendline that originates from a low posted on July 5th. The recent decline in the pair followed a rejection from resistance at the August high on an attempt on Friday. The somewhat loosely correlated USD/CHF pair ... (full story)