EUR/USD Weekly Outlook

[Forex-Outlook]

EUR/USD dropped sharply to as low as 1.2526 last week before forming a temporary low there. With 4 hours MACD crossed above signal line, some consolidation would be seen initially this week. But upside should be limited well below 1.3114 support turned resistance and bring fall resumption. Below 1.2526 will target key support level of 1.2329 next.

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