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EUR/USD takes a tumble
EUR/USD took a tumble yesterday, but remained above the weekly pivot at $1.1347. It tried to move below it this morning but, so far, buyers are holding it above this point. The $1.1366 area is the one to watch, being previous resistance from last August.
A daily close below that level would continue to reinforce the view that more downside is on the way here. Below $1.13 the drop could be dramatic, unwinding much of the ground gained since the beginning of May.