EURUSD (Daily) continues to chop sideways

FX:EURUSD   Euro / U.S. Dollar
On the Daily chart the EURUSD             continues to chop sideways. This has been the case from the beginning of September 2016. Currently price appears to be supported by the 50 SMA and chops between the 1.11 to the 1.13 zone with 1.12 acting as support and resistance at times. Overall we are still in a bearish trend since we have not broken the down channel line.
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