EUR/USD Sets Its Sights On $1.0970 Resistance

GDP & Durable Goods Up Next

GDP is expected to confirm 2.1% growth annually in Q4. Durable goods are expected to show -1.5% decline in January.

Levels to watch

Despite trading 0.7% higher today and gaining over 1% so far this week, the EUR/USDA downtrend on the 4-hour chart remains intact. The price would need to push beyond resistance at $1.0970 (trend line & 200 sma) to negate the current bearish trend.
Failure to break above $1.0970 resistance could send the pair back towards support at $1.0780 (low 20th Feb).

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