Attached is the 4H chart of EURUSD. As can be seen, there has been a big breakdown in the price and it has now come out of the range that it was in yesterday. The USD seems to have gained in strength across the board for all currency pairs.
EU has broken though support at 1.3330 and now has also broken major support at 1.3306. Unless it climbs back this support soon, we could see EU revisit its next major support which is at 1.3184.
On the downside , there is small support at 1.3275, then a strong one at 1.3245 and finally a very strong support at 1.3184 which has also been a low for some days of last week and hence should provide good support. I do not see EU going below 1.3184 today.
On the upper side, EU should face resistance at 1.3306 and then at 1.3340 and finally should move to 1.3420. I foresee some more ranging today though the range would be bigger than what it was yesterday. EU should not be falling below 1.3184 today.
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