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Euro is back below 1.10 handle after limited consolidation

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro remains at the back foot and probes again below psychological 1.10 support, which was cracked yesterday, but failed to clearly break lower. Narrow consolidation above 1.10 handle was capped by broken daily 30SMA at 1.1026, which marks significant resistance and guards the upper breakpoint of 200SMA at 1.1047. Fresh weakness below 1.10 support now looks for next pivotal support at 1.0960 zone, Fibonacci 61.8% of 1.0709/1.1374 ascend, reinforced by daily 55 and 100SMA’s, break of

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