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EUR/USD has broken out above a descending trendline and now trades near $1.1275, signaling a potential bullish reversal. This breakout follows a clean higher low formation above $1.1175 and a close above the 50-EMA ($1.1214), which is now sloping upward—adding to the bullish narrative.
The pair has also reclaimed the $1.1226 horizontal level, which now flips to support. A sustained move above $1.1275 opens the door for a test of $1.1323 and possibly $1.1378 in the coming sessions.
If momentum fades and price dips back below $1.1226, it would weaken the breakout case. Traders should watch for follow-through volume and a confirmed candle close above $1.1275 for validation.
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