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EUR/USD Trendline is Near 1.0590

EUR/USD Trendline is Near 1.0590

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-The last EUR/USD update noted that “big levels provide the impetus for big moves. EUR/USD has dumped and this is the largest 3 day drop since mid-December (which was a low by the way). From here, I’d watch the 100 day average for a response. The average was resistance in November and January.” The 100 day average and 1/30 spike low are just under the market at 1.0620. A proposed trendline is lower still…closer to 1.0590 on Friday.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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