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EUR/USD – new lows to dig, new ways to fall

FXStreet (Moscow) - EUR/USD opened the day at 1.2893, slid to 1.2866 low not seen since July, 2013, and rebounded to current 1.2884.

Life below 1.29

The pair became too sensitive to every new wave of USD popularity. Yesterday’s surge of USD/JPY immediately sent the euro below 1.29, refreshing yearly lows. And the chances to see further move down are quite high. The lack of economic data out of the euro zone this week may not save the euro from falling, as the growing strength of the USD may be enough for the pair to reach new multi-month lows. The initial target to the downside may be found at 1.2864 support followed by 1.2833.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2912, with support below at 1.2864, 1.2833, and 1.2785, with resistance above at 1.2943, 1.2991 and 1.3022. Hourly Moving Averages are bearish, with the 200SMA at 1.3084 and the daily 20EMA bearish at 1.3168. Hourly RSI is bearish at 31.

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