A EUR/USD break below 1.3165 would target correction to 1.3000, maybe 1.2900
- A growing risk now of a still deeper setback, having last week broken below modest support at 1.3300 and probed through the 1.3205 prop to indicate a more negative tone.
- This would be confirmed by a break below 1.3165, which would then signal a more negative theme to target the 1.3000/2990 chart target and maybe lower to the 1.2900/2890 basing area.
- The 8-day RSI, short-term momentum is negative, but not OS, leaving scope to go still lower this week.
- Above 1.3300 eases negative pressures; only through range resistance at 1.3450 see bullish extension risk to retrace/ chart targets 1.3505/20.
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