Forex Trading Library

Euro Breaks Down Below Support

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The euro turned weaker amid a stronger dollar.

Price action broke past the initial support level of 1.0855.

Further downside will see a test of the 1.0784 handle. This marks the lows from late February this year.

The Stochastics oscillator remains well in the oversold level suggesting further downside.

To the upside, the resistance level at 1.0855 will be the target which will cap the gains.

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