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EUR/USD sell-off back on
Yesterday’s rally in EUR/USD appears to be behind us, with the pair selling off once more upon topping out yesterday morning. We are currently seeing a break below the morning low of $1.1053. With that in mind, we are back into the medium-term bearish picture, which is our preferred scenario.
As such, further downside seems likely, with the continued creation of lower highs and lows expected. As long as price does not post an hourly close above $1.1071, then further downside seems likely, with $1.1035 and $1.1015 the next support levels of note.