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EUR/USD saw a temporary rally into the 76.4% retracement, selling off down to the week’s low $1.0981 almost instantaneously. An overnight rally looks likely to lead us into another move lower, in a continuation of the trend over the past week.
That being said, there is a possibility for a retracement of the recent selloff from $1.1165 and as such, a break above yesterday’s high of $1.1060 would look towards $1.1121 to then sell off once more.
Nevertheless, unless that happens we expect further downside to come, with support at $1.0981 and $1.0912.