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Forex Trading Technical Analysis (2010/08/20) EUR/USD Breaks Down Multiple Support Levels

EUR/USD (a 4-hour chart of which is shown) as of Friday (8/20/2010) morning has broken down below multiple support levels, including a clean breakdown of an important uptrend support line extending back to the early June low of 1.1875 and a tentative break below key support at 1.2700, to hit a fresh one-month low. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT