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Jun 17 - 04:55 AM

EUR/USD - Set To Probe Key Fibo After Biggest Drop In Over A Year

By Martin Miller  —  Jun 17 - 02:43 AM
  • EUR/USD on Wednesday registered the biggest daily drop since March 2020

  • It closed well below the 1.2051 Fibonacci level

  • 1.2051 Fibo is a 38.2% retrace of 1.1704 to 1.2266 (March to May) EBS gain

  • Thurs has seen the market drop under the 1.1985 Fibo, 50% of the same gain

  • The scope is for further losses initially to the 1.1919 Fibo (61.8% retrace)

  • Where the dollar ends this week is key for direction nL2N2NY0KD

  • EUR/USD Trader TGM2334. Previous update nL2N2NY0CB

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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