EUR/USD - essential support

FX:EURUSD   Euro / U.S. Dollar
recently some short selling has happened in E/U. Price has failed to push through the 50% fibo level of last retracement. This has triggered a strong downmove. Now the nearest support it has to maintain anyhow inorder to riseup again forming other bullish channel . But if it fails then it will take a support on this Red bold trend line and will be trapped in a downward channel .
Comment: failing to cross the converted resistance.


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