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The common currency is trading weaker on Monday, largely due to a slightly higher greenback.

Price action continues to ease lower with intraday lows trading just a few pips off the 1.1800 handle.

Continued declines could see the 1.1800 level of support being tested once again.

However, the lower high following the recent rebound off 1.1800 signals caution.

A breakdown below 1.1800 could see price action pushing lower and potentially shifting the short term trend.

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