The euro currency is consolidating after price action closed below the trend line in the previous session.
The euro currency is consolidating after price action closed below the trend line in the previous session.
However, with prices trading rather flat, there is scope for a rebound back above the trend line.
In the near term, the price level of 1.0818 will be acting as resistance and a breakout above this level could see buyers pushing the euro higher.
To the downside, if prices continue lower, then we expect a move down to the 1.0662 level where support will form.
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