EURUSD hits the lowest since 2003
|The Euro extends bearish acceleration for the second day and takes out critical support at 1.0461. Fresh weakness approached targets at 1.0400/1.0395 (psychological support/Aug 1999 low), trading at the lowest levels since Jan 2003. Break here would expose 1.0297 (Fibo 161.8% projection of the downleg from 1.0872 peak) and open way towards parity level. We look for a daily/weekly close below 1.0461 to confirm bearish resumption. Recovery attempts were so far mild and limited under initial barriers at 1.0461/67 (former critical support/hourly lower base) and session high at 1.0521, where extended upticks should be ideally capped.
Res: 1.0461; 1.0521; 1.0567; 1.0600
Sup: 1.0395; 1.0345; 1.0297; 1.0200
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