EUR/USD/Technical Analysis

EUR/USD technical analysis: Weekly chart has scope for 1.3140

The short term charts are bullish but somewhat overbought on most indicators; the daily chart is in retracement mode but is running into initial resistance near 1.2885 with stronger levels at 1.2935/40; and the weekly chart looks to have scope to test the full 38.2% retracement of the 1.4930/1.2040 decline which comes in near 1.3140.

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