The March Euro currency closed down 17 points at 1.1005 yesterday. Prices closed near the session low and hit a contract low. The bears have the solid overall near-term technical advantage amid a five-week-old price downtrend on the daily bar chart. The Euro bulls’ next upside price objective is pushing and closing prices above solid technical resistance at the mid-January high of 1.1212. The next downside price breakout objective for the bears is closing prices below solid chart support at 1.0900. First resistance for the Euro lies at yesterday’s high of 1.1038 and then at Wednesday’s high of 1.1074. Next support is seen at yesterday’s contract low of 1.0989 and then at 1.0950.
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