The EURUSD has hit the bottom boundary of the ascending channel and the 1.07150 support level as well as the 50-day moving average. Currently, it is attempting to test the 1.08350 level in order to form the first lower low, or possibly the 1.09000 level to form a head and shoulders pattern. Ultimately, if the price fails to produce a higher high, a bearish trend is likely to follow.
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