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Forex Analysis: EUR/USD grew above 1.24 to the new highs

Forex Analysis: EUR/USD grew above 1.24 to the new highs

The British pound has also grown against the dollar. The UK news will present the industrial production data. We expect that the industry continued to grow in October and in total industrial production output increased by 0.2% m/m and 1.8% y/y after + 0.6% m/m, + 1.5% y/y and the manufacturing sector production increased by 0.2 % m/m + 3.2% y/y vs. + 0.4% m/m, + 2.9% y/y in September. The bears did not manage to consolidate below the support level of 1.5580-1.5600 because there was a rebound to the resistance around 1.5660-1.5670.

The support levels are 1.5630-1.5650, and the resistance levels are 1.5730 – 1.5750.

MACD is in a neutral territory.

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