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The euro is down to its third consecutively daily loss. Price action is consolidating near the 1.175 handle.

Although price action remains weak, a close above 1.1750 will confirm a possible move to the upside.

However, unless the EURUSD can rise to new highs above 1.1900, we could expect some ranging price action to take place near the current levels.

To the downside, if the euro loses the 1.1750 handle, then we expect a move toward 1.1700 supported by the rising trend line.

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