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The EUR/USD currency pair experienced a sharp upward move during the European and early North American trading sessions, but the rally hit a major technical barrier. For the second consecutive Friday, the pair pushed past its 100-day moving average, reaching a high of 1.1585. This level tested the key 50% Fibonacci retracement level and the top of a swing area before selling pressure caused a swift reversal back below the 100-day moving average.
