EURUSD:As a second day of downside weakness drove the pair back below the 1.3330 level, its Jan 27’09 high/former range top, focus has now shifted to the 1.3113 level, its Mar 30’09 low. Weakening through that level will put the pair on the path to further downside pressure towards the 1.3097/93 area, its Feb 09’09 high/.50 Ret(1.2456-1.3738 rally) .The daily RSI which is bearish and trending lower remains supportive of the pair’s downside view.
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