Technical Analysis

EURUSD approaches a lower channel trendline

Moving away from the 50% retracement

The EURUSD is continuing the move to the downside and in the process is moving away from the 50% retracement 1.1089.  The next target would be a lower channel trendline that comes in at 1.10768. Below that is the 100 day moving average at 1.1063. Also near that level is the 61.8% retracement of the move up from the end of November low. That comes in at 1.10638.

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