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   “¢   The pair extended its intraday rejection slide from 50-day SMA and dropped to one-week lows, further below mid-1.1300s during the mid-European session on Monday.

   “¢   A sustained break through 200-hour SMA – for the first time in nearly two weeks, was seen as a key trigger for bearish traders and behind the latest leg of a downfall.  

   “¢   Meanwhile, the recent price action, wherein the pair repeatedly failed to sustain/build on its momentum beyond the 1.1400 handle, clearly points to persistent selling bias.

   “¢   The pair has now dropped to 50% Fibo. level of the 1.1234-1.1420 recent up-move, with bearish oscillators on 4-hourly/daily charts adding credence to the negative outlook.  

   “¢   However, technical indicators on the 1-hourly chart are already pointing to slightly oversold conditions and warrant some consolidation before the next leg of depreciating move.

EUR/USD 1-hourly chart


       Today Last Price:  1.1333
       Today Daily change:  -32  pips
       Today Daily change %:  -0.28%
       Today Daily Open:  1.1365
       Daily SMA20:  1.1344
       Daily SMA50:  1.1391
       Daily SMA100:  1.1387
       Daily SMA200:  1.1508
       Previous Daily High:  1.1409
       Previous Daily Low:  1.1353
       Previous Weekly High:  1.1422
       Previous Weekly Low:  1.1328
       Previous Monthly High:  1.1489
       Previous Monthly Low:  1.1234
       Daily Fibonacci 38.2%:  1.1375
       Daily Fibonacci 61.8%:  1.1388
       Daily Pivot Point S1:  1.1342
       Daily Pivot Point S2:  1.132
       Daily Pivot Point S3:  1.1287
       Daily Pivot Point R1:  1.1398
       Daily Pivot Point R2:  1.1431
       Daily Pivot Point R3:  1.1453