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EUR/USD closed lower on Monday as it extends the decline off this month's high. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but are bearish signalling that additional weakness is possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the bearish outlook.
