The euro currency is falling for the second consecutive day, down close to 0.60% on an intraday basis.
With the declines so far, price action is erasing the gains from the previous sessions.
The support level of 1.0879 failed to step in as support. A breach of this level is pushing prices lower.
The next downside target is at 1.0818. However, there is scope for prices to rebound ahead of the decline further.
With the Stochastics oscillator already in the oversold levels, the hidden divergence could signal a move back to the upside.
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