The euro currency continues to maintain a sideways range. Prices are showing a strong consolidation around the 1.1261 level. Another attempt to rise above this level was met with resistance.

For the moment, the falling trend is also acting as a dynamic resistance. However, prices need to break out above 1.1261 and the trend line will then change the direction in the trend.

For the near term, as long as the consolidation continues, the bias remains to the downside.

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The lower support level near 1.1132 remains the downside target for the moment.


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