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Forex pairs in this Article » EUR/USD (Edinburgh) -A bout of risk aversion is now dragging the EUR/USD to fresh session lows in the area of 1.3165/70 on Monday after visiting overnight peaks around 1.3210.

EUR/USD vs. EMU consumer confidence

Next on tap in the euro docket will be the advanced figured for the Consumer Confidence in the bloc, expected to improve a tad to -18.3 from -18.8 for the month of July. In the opinion of George Antonakos, Analyst at Chartist, “First important resistance emerges at 1.3230-50, while the higher range should be 1.3290-3310 area. A bearish reaction is likely from these levels and could lead back to 1.2800, keeping the price within the wider sideways formation that is clear in the weekly and daily chart”.

EUR/USD critical levels

At the moment the pair is retreating 0.11% at 1.3169 with the initial support at 1.3115 (low Jul.22) followed by 1.3106 (cloud base) and finally 1.3089 (low Jul.19). On the upside, a break above 1.3218 (high Jul.22) would open the door to 1.3255 (high Jun.21) and then 1.3261 (76.4% of 1.3417-1.2755).
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