EURUSD - 13 day average provides platform for improving sentiment
​The modest decline from this month's peak deepened initially yesterday. This fall triggered our weekly buy dip point at 1.1114 as buyers returned below the 13 day moving average. The resulting bounce produced only minor net movement on the day but, in our assessment, the downside rejection highlighted the weakness of the profit taking setback. With this in mind, our call is a Buy from 7am but to leave room to Buy a Dip to 1.1137, the 13 day moving average. The risk is 1.1097, May 19th low, and the immediate target is yesterday's 1.1205 high. A move above that level then targets 1.1235, Friday's peak, or even towards this month's 1.1268 high.
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