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EUR/USD: 1.2746/1.2755 lows a viable target - JPMorgan

FXStreet (Bali) - Niall O'Connor, FX Strategist at JP Morgan, notes that after the breakout of 1.3104/1.3045, the next viable target should be 1.2746/1.2755 lows.

Key Quotes

The key focus from last week was the decisive breakdown in EUR/USD below the important 1.3104/1.3045 support zone. As mentioned in recent updates, this area included the 76.4% retracement of the rally from the 2013 low and the September 2013 low."

"While the short term setup can allow for some pause to the one-way decline against the 1.2900 support area (was broken), the 1.2746/1.2755 lows from last year are now viable targets."

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