The European Single Currency depreciated 0.67% against the US Dollar since Monday’s session. On Tuesday morning, the rate was located near the weekly S1 at the 1.1534 mark.

In regards to the near future, the rate will keep moving downwards until the currency pair will reach the weekly S1 at the 1.1511 mark. Most likely, the rate will bounce off the weekly S1 due to its support. The rate might trade at the 1.1500 level on Tuesday.

Besides, none of the technical indicators can prevent the trading pair from downside movements during the trading session.

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