Euro Fails at Support – Can it Recover?

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The euro failed at the support level of 1.1055. This puts the bias to the downside if the currency pair fails to break out above this level.

If resistance forms near 1.1055 then we expect a possible move to the downside.

The lower support at 1.0787 will be tested in the near term if resistance is confirmed.

Alternatively, if the hidden divergence on the Stochastics oscillator is confirmed, then we could expect a move even higher.

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