However, there still is this little item called the FOMC meeting and their annoucement today at about 2:15PM Eastern to deal with first. I would not think that we will see alot of selling pressure before then but one never knows for sure what a market will do. This move down through support is bearish for this pair as the daily chart still shows a strong downtrend and now the intraday charts are moving down also. I would look for selling opportunities, but wait until after the FOMC announcement today to open any longer-term positions.
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