Euro Maintains declines amid a strong USD

The euro is down another 0.8% on the day. The declines could likely see a move to the lower support level at 1.0787.

There is scope for a modest rebound ahead of the decline to the support level. However, the resistance level at 1.1030 will be coming under a second retest.

As long as this resistance holds, the downside is likely. In the event that the support fails at 1.0787, then we expect a move lower to 1.0663.

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