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EUR/USD Tests Key Technical Resistance at 100-Day Moving Average

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EUR
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The EUR/USD pair has rebounded after holding onto the support zone of 1.1400-1.1420, and is now approaching the closely watched 100-day moving average.

The daily chart suggests that this bounce is primarily corrective rather than a sustained uptrend.

The 100-day MA is converging with a previous congestion area, making it an important dynamic resistance for the pair to overcome.

Unless buyers can secure a convincing daily close above this barrier, there remains an elevated risk of renewed selling pressure.

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