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EUR/USD Technical Analysis: lower highs favor a drop below 1.13

  • The EUR/USD is currently trading at 1.1313 and could soon drop below 1.13, courtesy of bearish technical setup, Italy uncertainty, and growing Fed-ECB divergence.
  • The bearish outlook would be invalidated if the pair bounces off from the 200-week simple moving average (SMA) of 1.1308.

Hourly chart