TheNews

The euro continues to lag major central banks as far as rate hikes are concerned, leaving it vulnerable over the medium term despite warnings from ECB officials.



Daily price is located far below 200 SMA in the bearish aeea of the chart with the oversold market condition. The price is testing the bearish triangle pattern with 1.047 support level to below for the bearish trend to be continuing. Alternatively, the price will be on the secondary ranging with the primary bearish waiting for the direction of the strong trend to be started.

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