EURUSD: Consolidating in a tight range

FX:EURUSD   Euro / U.S. Dollar
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Recent overbought conditions have shifted the price action to a consolidation phase with in a tight range. Near term support find between 1.2320-1.2300. A move below this need to extend the near-term retracement to 1.2225 (38.2 fib reaction, 1.1717-1.2537 rally) and 1.2170 Jan 18th low.
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