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May, 04 - EUR/USD started a strong recovery

After trading as low as 1.0727, the Euro started a strong recovery against the US Dollar.

eurusd04052020EUR/USD climbed above the 1.0850 and 1.0900 resistance levels to move into a positive zone.

During the rise, the pair climbed above a major bearish trend line at 1.0932. It even spiked above the 1.0990 swing high and 1.1000. On the upside, the next resistance is near the 1.1050 level. Conversely, there could be a downside correction towards the 1.0930 and 1.0920 levels. The main support is now forming near the 1.0880 level

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