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The medium-term uptrend is still intact even though the trend line is broken. Currently the price trading well above the 50% retracement level at 1.11640 level. In the last FOMC meeting, the FED has declared that they are not yet ready to hike their interest rate. This decision has created an ease into the mind of EURO investors since the pair was trading below the trend line resistance at 1.1270 level. A daily closing above the bearish trend line resistance at will leads the pair towards the daily broken trend line at 1.1510 level. Traders are expecting a rebound from the broken trend line resistance towards the 50% retracement level. On the contrary, if the bearish trend line resistance creates enough selling pressure than we might see the EURO at 1.1120 minor support level. A clear decisive break of that level will bring the pair towards the critical support level at 1.09594.This level will play a significant role into the next move of EURUSD pair since the 61.*% Fibonacci coincide with the critical support level.

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