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EUR/USD once again at risk of posting a daily close below technical support

Since my last update here on the price action in the EUR/USD, it has been struggling to make any lasting rebound from an earlier session low at 1.0814. It did briefly rise back above 1.0830, but since then it has been drifting lower once more. That 1.0814 low is still intact though for the time being, but once again there is a risk of a daily close below its 200 day moving average. That is in place right now at 1.0843. So, it has started to edge lower too. The EUR/USD did fall below this technical level on January 23 and again on January 25 and January 26. However, as mentioned earlier this morning, it did not set a daily close below there on any of those sessions. There is also the prospect of fresh selling that might impact the price if it drops to a new 2024 low underneath 1.0813. The EUR/USD is currently trading at 1.0816. It also remains to be seen, what if any US dollar denominated flow might impact the spot month end London 4pm fix this afternoon. 
 

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