BREAKING: EURUSD tests key support

EURUSD has experienced sharp declines over the past two days. Looking at the H4 interval, we can see that the pair has reached the key support near 1.2100 handle. This level is marked with the lower limit of 1:1 structure and 50% Fibonacci retracement of the recent upward impulse. Should buyers manage to hold the price above this support, another upward impulse could be launched.On the other hand, breaking below 1.21 could pave the way for more declines. The next support to watch can be found at 1.2030.

EURUSD H4 interval. Source: xStation5

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Forex Technical analysis

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