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Daily Technical Report

EUR/USD: Resuming sharp reversal into 1.3140.

EUR/USD is resuming its sharp reversal from key overhead resistance (primarily an important 2 year trend-line).

The bearish move is now being further anchored down by heightened European sovereign debt risk after Italian Govt. yields launched above 7%.

The recent break under 1.3653 (18th Oct low) unlocks further downside scope into 1.3146 (Oct swing low) and psychological level at 1.3000.

Daily Technical Report

 

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