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The EUR/USD pair continues trading uneventfully around Friday's close, as the market is still digesting the consequences of a strong US job's creation report. Additionally, the macroeconomic calendar has been light ever since the week started for both economies, failing to offer a new trigger to investors.

View the Live chart of the EUR/USD

Nevertheless, the bearish potential remains intact, given that the pair is unable to extend beyond the 1.0800 level, and that the  4 hours chart shows that the technical indicators have  erased their oversold conditions. In this last time frame, the 20 SMA has extended its decline above the current level, and now provides a dynamic resistance around the mentioned 1.0800 level, whilst the RSI indicator seems ready to resume its decline after barely recovering above  its 30 level.

A break below 1.0700 is required to confirm additional declines, with the immediate bearish target at 1.0660. Below this last the decline can extend down to 1.0620/30,  although the pair is expected to hold in a limited intraday range and far above this mast. The immediate resistance is 1.0790, with some steady gains above it favoring an upward continuation up to 1.0850. 

Latest updates on the EUR/USD Forecast

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