Euro fails to breakout above 1.1000
The euro is paring gains from last week as price failed to breakout above the 1.1000 level of resistance.
Gapping lower on the open, prices extended a steep decline, down over 0.60% on an intraday basis.
This decline could potentially see the euro slipping to the lower support level of 1.0879.
Establishing support here could see prices trading within a range.
Expect further declines if the support level of 1.0879 gives way.
In the near term, a rebound could see a possible lower high forming which will validate the declines.
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