The EUR/USD is currently testing the lower trendline of the current consolidation. A low was made for the session at 1.3912. A clear break below this level could send the pair to test near term support at the 1.3832 level. Longer term support comes in at the 38.2% Fibo level at 1.3619. The pair has been moving progressively lower since the 9th of July and has been in a tightening formation for the past few days.
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