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EUR/USD continues to consolidate
EUR/USD is moving higher from the $1.0563 support level once more this morning, with the pair continuing to consolidate. We need to see a break from this range to provide the clues of where the next move will be.
Given the size of the sell-off prior to this range, there is a good chance we could see the market regain some of those losses. However, with a clear downtrend in place there is also a good chance we will see another leg lower.
As such, it makes sense to await a break above $1.0686 or below $1.0525 to gauge the next move. Until then, the range remains relatively consistent and thus could continue to dominate.