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Forex pairs in this Article » EUR/USD
FXstreet.com (San Francisco) - The Euro is trading quietly between 1.2700 and 1.2725 against the US Dollar after joining a hard battle for the 1.2740, who take the EURUSD from 1.2790 in the Friday's Asian session to reach 2-month lows at 1.2690 just at the NY opening bell.

Currently the EURUSD is trading at 1.2715, 0.23% below opening price action, and printing its third weekly loss in a row. The TD Securities' analysts Greg Moore and Shaun Osborne states that the "EURUSD's technical profile weakens below 1.28."

Osborne and Moore points that they "cann't argue that the EUR is consolidating the July/September rally any more. In fact, this week's break through support in the low 1.28 area (200-day MA and the September/October range base) argues more strongly and obviously for lower EUR levels."

"The break out from the sideways range trade (a double top) targets a drop to the upper 1.24 area." TD analysts add. "A second weekly close below the 40-day MA supports the negative outlook now."
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