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EUR/USD Technical Analysis

With EURUSD now trading under the significant 1.0500 to 1.0600 levels it looks increasing likely that an attempt to push EURUSD to parity will be made.However there are many hurdles first need to be overcome in the form of three prior weekly support levels at the 1.0340, 1.0210, 1.0090 areas.

We may see a correction higher however thus far corrective rallies have been used as opportunities to short EURUSD and this would logically seem the most appropriate strategy to continue to pursue.From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.0685 level.

EUR/USD Chart

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