Bullish outlook on EURUSD: 20 June 2022

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On the H1 timeframe, prices are holding above a key support level 1.03800. A throwback to support level at 1.04500, in line with the 0.618 Fibonacci extension provides an opportunity to play a bounce with 1.06500 as the resistance target, in line with the 61.8% Fibonacci retracement.