Euro likely to position for further gains

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The euro currency slipped, losing more than 0.50% on the day. However, price is being supported off the lower median line.

If price follows through above the previous highs of the 1.1133 region, then we expect further gains above the 1.1200 psychological resistance.

Further gains are expected which could see a move toward the 1.1300 region.

Alternately, if price fails to breakout higher, then we anticipate a move lower. The declines could see a move toward the 1.0787 where support will be tested.

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