EUR/USD Looks to Be Reacting Off Of Resistance on H4
The below is the H4 chart of the EURUSD. Price is reacting off of overhead resistance around the 1.1170 level (red shaded horizontal). This has been respected a number of times since 5 May and looks to be a level that the market is paying attention to. Moreover the RSI(9) has dipped back below 50 which is suggestive that the underlying momentum is turning bearish. We continue to monitor.
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