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EURUSD extends to new lows
The EURUSD is making new trading lows, extending the trading range for the day in the process (it is now 79 pips – still short of the 22 day average range of 113 pips). The pair is testing the next target level (see Forex Technical Analysis: EURUSD settles down as the afternoon progresses ) at the 1.2660 level. This is the low from November 2012 (see chart below). The low reached 1.26584. The buyers against the support make sense on the first look. Risk is limited. The action in the EURUSD has kept the bearish bias from yesterday when the price could not extend above the ceiling area at the 1.2838-44 and then ... (full story)