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Selling off for the last three days, the Euro gave back the prior 5 day’s worth of gains via impulsive price action selling. This was likely a combination of strong profit taking from the prior 450pip bull run, along with sellers waiting at the 1.3129 triple top resistance area. Short term the sellers are still in control, so downside levels to watch for possible price action signals are 1.2800 and 1.2659.
Showing a fair amount of strength and resilience, the Kiwi has climbed 4 of the last 5 days, and has also hit a key triple top level at .8350. Intraday the pair rejected off the level on Thursday (mildly) which was followed by an inside bar to …