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EUR/USD continues to weaken within wider retracement
EUR/USD is turning lower once more this morning, as the pair looks set to head towards the 76.4% retracement at $1.1771. The ability to post an hourly close below the 61.8% ($1.1808) mark would point towards a possible deeper retracement.
However, we would need a move below $1.1712 to negate the wider uptrend, and as such, while we could see further downside in the near-term, there is a good chance we could see the price move higher before long.