EURUSD – support at 1.0980 stopped declines, it is likely that 1.1100 will be tested

Declines at EURUSD were stopped by support at 1.0980. At this level you can clearly see the support reaction. Now area 1.1100 should be tested and there we will see in which direction price wants to move in the nearest future.

Return above 1.1100 will lead price to last high at 1.1380. Before that, demand must break above two weak resistances 1.1160, 1.1230. Alternatively if price falls, initial target for declines is located at 1.0980 and next equally strong is located at 1.0810.

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Time-frame H1