Euro Recoups Losses
The euro currency pared losses from Monday as the US dollar weakened on Tuesday.
Price action continues to remain to consolidate near the key resistance area of 1.2177 – 1.2144.
Since Friday, the euro currency has been stuck in this resistance area. Meanwhile, the ascending triangle pattern continues to remain in play.
For price to continue to push higher, a breakout above the 1.2177 level is needed.
To the downside, a breakdown of the trend line could open the way for the euro to retest the 1.2050 level a bit more firmly.
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