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EUR/USD crashed below 1.2600, more downside in store

FXStreet (Moscow) - EUR/USD  is sliding down during Asian hours flowing a big crash triggered by FOMC meeting; the pair is trading at 1.2596 after having started the day at 1.2636 and touched Asian low at 1.2585.

EUR/USD lived through an awful NY session on Wednesday as FOMC statement published after October meeting was considered unexpectedly hawkish. The pair broke below the large option barrier at 1.2615 and rushed to 1.2584-70 area of medium demand. Markets are inclined to buy USD now, so they would use any pretext to do so. German labour market data published during European session may provide a good bearish trigger if it proves that the largest EZ economy is weakening.

What are today’s key EUR/USD levels? 

Today's central pivot point can be found at 1.2684, with support below at 1.2584, 1.2537 and 1.2443, with resistance above at 1.2725, 1.2819 and 1.2866. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2708 and the daily 20EMA flat at 1.2719. Hourly RSI is bearish at 19.

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