EUR/USD closed lower on Tuesday and the low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it resumes this month's decline, the 2009 low on the weekly continuation chart crossing is the next downside target.
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