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Accelerates Sell-Off

EURUSD TECHS
  • RES 4: 1.1821 High Sep 16
  • RES 3: 1.17155 / High Sep 22
  • RES 2: 1.1650/92 Bear channel top from Jun 1 high / High Oct 28
  • RES 1: 1.1514/1608 Low Nov 5 / High Nov 9
  • PRICE: 1.1458 @ 17:22 GMT Nov 15
  • SUP 1: 1.1402 Low Nov 15
  • SUP 2: 1.1375 1.382 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 3: 1.1310 Bear channel base drawn from the Jun 1 high
  • SUP 4: 1.1299 1.382 proj of the Jan 6 - Mar 31 - May 25 price swing

US curve steepening continued to play out through EUR/USD Monday, with the pair slipping through last week's 1.1433 to extend losses. This puts the pair at the lowest level since mid-2020 and the USD Index at a similar mark. A break below the 1.14 handle exposes losses toward 1.1375 support (1.382 proj of the Jan 6 - Mar 31 - May 25 price swing) as well as 1.1310, the bear channel base drawn off the Jun 1st high. The next objective is 1.1375, a Fibonacci projection. 1.1608, Nov 9 high marks the key short-term resistance.

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