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EUR/USD Drops to Trendline Support

EUR/USD (daily chart) as of Friday (6/24/2011) has dropped down to the dynamic support provided by a bullish support trendline extending back to the mid-February low. The current bearishness occurs after price action failed to make further gains and fell from its 1.4440 high. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT
Director of Technical Research and Education