EUR/USD Breaks Upward Channel
Based on the current chart of EUR/USD, the price has broken the upward channel and is in a downward correction trend. With the current selling pressure, EUR/USD is likely to continue falling towards the support zone around 1.0700 – 1.0720. If the price continues to be under pressure and fails to overcome the resistance at 1.0800, a deeper decline scenario is very likely.
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