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EURUSD consolidates after decline pauses
EURUSD came under severe selling pressure in the aftermath of a hotter-than-expected inflation report on April 10, violating its 2024 low of 1.0693. Although the pair managed to find its footing at the five-month bottom of 1.0600, it has so far failed to stage a significant recovery. Should downside pressures persist, the pair might revisit its recent five-month low of 1.0600. Sliding beneath that floor, the price could test the October-November support of 1.0516. Even lower, the September support of 1.0487 may provide downside protection. On the flipside, bullish actions might meet initial resistance at the crucial ... (full story)