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EUR/USD drifts lower
EUR/USD has been drifting lower following the massive European Central Bank fuelled spike on Thursday.
Given the strength of Thursday’s move higher, this current pullback looks like it could be a precursor to another move higher. However, for that to happen, a close above $1.0886 would need to occur.
Until we see that break, the downtrend remains in play since the $1.0981 peak and thus the current downside will look towards $1.0833 and $1.0808 as the next support levels to note.