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The euro currency is consolidating near the technical support/resistance area of 1.1715.

While prices briefly slipped below this level, on Friday, the euro made a modest pullback.

If the euro loses this handle, we could see the price eventually dropping further. This will open the risk to the downside.

The next lower support is seen at the 1.1600 level of support that has not been tested yet.

To the upside, the ranging price action might continue with the resistance level near 1.1800.

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