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Analysts at Rabobank note that over the past couple of days EUR/USD has given back a large part of its September rally.  

Key Quotes

“The break below September’s upside trendline is a negative technical signal.   Support is offered by the 50 day simple moving average close to the 1.16 level.   Below this, the charts suggest that EUR/USD could head back towards the 1.15 area.”