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EUR/USD moves to one month low below 1.29
The Euro is presently consolidating in a narrow trading range right around 1.2880 after having recently moved down towards 1.2850 and then rallied higher. The lows below 1.2850 are the lowest levels it has traded to since early April. It has also become evident over the last few days, especially on the 4 hourly chart below, that the 1.30 level is now providing some resistance and placing pressure on price. The Euro finished last week moving back down through the long term key level of 1.30. It did spend the last couple of weeks trading right around the 1.31 level and finding support and resistance at 1.30 and 1.32 ... (full story)