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Todays EUR USD analysis
As soon as Asian trading commenced on Sunday evening, the pair took another look at the support at 1.4684 before rallying into the resistance zone yesterday at 1.4842 (1.4876 major resistance). At the time of writing the pair is breaking down through the major 12 month uptrend line at 1.4743 and is now testing the support at 1.4684 for the third time in 5 sessions. The only saving grace for the bulls is that the level also coincides with the lower short term downtrend channel but it is worth noting that should we break below this level we will see stops across the board and a swift move to the next support all the way down at 1.4445.Sign up for a free demo account on our site today and try it out without any commitments.

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