Is EUR/USD looking for a strong recovery after ECB?

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The Draghi’s words favored to a volatile session for EUR/USD, as it has been trading into a sideways structure, but still below the 200 SMA.

In a technical view, pair is expected to perform a decline toward the support zone of 1.1238, where a breakout could strength this bearish bias. However, main scenario is calling for another attempt to resume the bullish bias heold since the April 15th session.

If EUR/USD does a breakout above the resistance zone of 1.1443, then this view would get favored for further advance to new highs.

MACD indicator is still hovering on the positive territory.

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