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EUR/USD – Reenters falling channel

FX:EURUSD   Euro/U.S. Dollar
Pair’s re-entry into falling channel on the daily chart coupled with a bearish RSI and money flow index suggests it is just a matter of time before 50-DMA support is breached for a test of 200-DMA support at 1.11.

Given the retreat from the recent high of 1.1360 has been pretty slow, a corrective pull move, if any, is unlikely to breach channel resistance seen at 1.1190.
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