EURUSD broke below 1.4524 previous low support and reached as low as 1.4410. Further decline towards 1.4000 area is still possible. Near term resistance is at the down trend line and followed by 1.4750, as long as 1.4750 resistance holds, down trend will continue. For long term analysis, EURUSD is in consolidation to the long term bullish movement, and further rise towards 1.6000 to reach the next cycle top on weekly chart is still in favor after consolidation.
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