EUR/USD Breakout

Price was unable to rally pass a resistance point on two occasions. Today, price has dropped below the support at 1.1235. Stochastic is moving lower and MACD has been weak when price moves higher. All these are hints of further price decline. The first target would be equal to the consolidation pattern, which is at 1.1190. However, price is likely to move lower than this minimum target. The next point would be the recent low of 1.1180. A break of this recent low is likely to see price going to 1.1140

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