EUR/USD falls below the 1.13 handle for the first time in just over two weeks

Technical Analysis

Author: Justin Low | eurusd

The US dollar continues to hold firm on the session

EUR/USD H1 11-02
As mentioned earlier, the downside momentum remains intact and price did not break the trendline resistance despite some consolidation around 1.1320-30 earlier. Right now, a downside break is looming with bids around 1.1300-10 being slowly eroded as the 24 January support @ 1.1290 being the next line of defense for buyers.

There's still some decent support for the pair around 1.1270-80 from late-November and December lows last year but it's tough to pick a bottom once the 1.1300 handle gives way. More so when the fundamental backdrop is working against the euro rather significantly over the past two weeks.

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