EURUSD backs off after approaching topside target. Key support eyed on the retracement. ...Middle East

However, sellers leaned against that resistance, and the pair has since rotated back to the downside.

What to watch

Break back below 1.1271 → Signals a failed breakout and opens the door for a deeper pullback toward prior consolidation levels

The bulls had their shot. To stay in control, they need to defend 1.1271 — or risk handing the reins back to sellers.

This article was written by Greg Michalowski at www.forexlive.com.

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