Euro consolidates close to the 1.0871 resistance level

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The euro currency is trading rather flat, up just 0.30% on the day.

Price action briefly rose to the minor resistance area of 1.0871 before pulling back slightly.

The inverse head and shoulders pattern that we are watching remains in play.

However, if price breaks down below the previous lows of 1.0819, then the bullish inverse head and shoulders pattern will be invalidated.

A close below 1.0819 will trigger declines down to the lower support area of 1.0787.

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