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EUR/USD falls into crucial support zone
EUR/USD has been breaking lower since rallying into the 76.4% retracement, with the sell-off bringing a move back towards an important support zone $1.2239 and $1.2205.
With price action over recent months trading within a period of consolidation, there is a good chance we will see the price turn higher soon enough to maintain that trend. With that in mind, while we could see further short-term downside, it may make sense to await the bullish reversal rather than expecting a strong extension to the downside.
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