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Published On: Thu, Oct 30th, 2014

EUR/USD – Technical Analysis (30.10.2014)


The EUR/USD selloff yesterday resulted in a breach of the diagonal support connecting the lows from 23 October, and the pair made its daily close at 1.2636. This marks the end of the protracted correction phase. We expect more EUR/USD weakness: next target is 1.2581, en route to the key support at 1.25.

Immediate resistance can be spotted at 1.2682; the latter is expected to cap any upside attempts.

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