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EUR/USD at risk once more

Later session updates here yesterday noted the potential for the EUR/USD to drop back below its 200 day moving average, as wrong-footed Euro bulls might be forced to part company with their holdings below the 200 day moving average. Well, that did not happen last night as the EUR/USD closed at 1.0860. However, it seems to have done so this morning. Incidentally, that 200 day moving average has shifted slightly and it is in place now at 1.0839. The EUR/USD has traded to a low so far at 1.0831. That is below the daily lows seen earlier this week, at 1.0835 and 1.0836. It does suggest that stops have indeed been tripped below those levels. The risk of further downside is therefore on the radar here this morning. The EUR/USD is currently trading at 1.0835

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