EUR/USD: As we failed to break below 1.3846 an upside reaction wereinitiated forcing the pair to give up 78.6% of the precedingdecline. It is however not uncommon that the first reactionafter a turnaround goes very deep into the prior move. Themarket also ended the day below 1.3915 creating a secondconsecutive spike above the resistance. For today we shouldpreferably stay below 1.3940 and break below 1.3873 inorder to get some downside traction.
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