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EUR/USD heading lower once more
EUR/USD is turning lower yet again, following on from a rebound from the crucial $1.1689 support level yesterday. That level will once again be key to price action and our outlook today, with the ability or inability to break below $1.1689 crucial to understanding whether this is the beginning of a period of weakness for the pair.
As such, watch out for an hourly close below the $1.1689 level for a bearish signal, while a failure to do so, followed by an hourly close above $1.1758 would signal a bullish shift.