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Forex pairs in this Article » EUR/USD
FXstreet.com (Córdoba) - The EUR/USD hit a fresh daily low at the beginning of the American session after data showed industrial production grew more than expected in September, while pending home sales slumped.

The EUR/USD slipped below the 100-hour SMA and fell to a low of 1.3774 before finding support and recovering slightly to currently trade around 1.3785, still 0.1% below its opening price.

EUR/USD technical perspective

From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the hourly chart presents a slightly bearish tone, with price below its 20 SMA and indicators in negative territory, with 1.3740 October 23rd low as immediate support. "In the 4 hours chart, technical readings also turn south testing their midlines, as price attempts to break below its 20 SMA, still far from supporting a bearish continuation", Bednarik adds.
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