EUR/USD: Coiling 10/20/50/100-Day SMAs warn of a major move ahead and given broader price action, it looks as though this move could be to the downside. In the interim, key levels to watch above and below come in by 1.2800 and 1.2625 respectively. Ultimately, only back above 1.2925 would negate outlook and give reason for pause.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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