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Nov 30 - 12:55 PM

EUR/USD: The 2 Levels To Target On The Downside - Citi

By eFXdata  —  Nov 30 - 12:00 PM

Citi sees a scope for EUR/USD to extend its downside move towards 1.1169 down to 1.1080/40.

"There are a combination of support levels ranging from 1.1169 down to 1.1080 that could be deemed supports and or targets for this move...We have numerous instances where EURUSD pivots around its 76.4% pullback level and that stands at 1.1040.," Citi notes.

"IF we were to see the area around 1.1040 hold decisively that could be a sign that this move has reached its course. However, as we know, there are many moving parts in terms of FX as it is always a “relative” trade," Citi adds. 

Source:
Citi Research/Market Commentary

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