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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The EUR/USD pair is nearing its weekly high at 1.1435. Technical analysis indicates a fading of the bearish momentum that was previously affecting the pair. On July 6, the pair surpassed the 38.2% Fibonacci retracement level of the recent downward move but faces selling pressure. Bears remain active near the 1.1675 resistance and the 100-period simple moving average.