The current outlook for the Euro looks fairly negative if one considers where correlated assets are trading. As we represent in red boxes, which imply a negative input, no asset with a strong correlation to the pair justifies higher levels. What this implies further strength in the currency might be seen as selling opportunities. We've also drawn the ECB-led supply zone as a level of reference expected to be a line in the sand for the Euro going forward, as long as valuations continue to point to a lower exchange.
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