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EUR/USD closed lower on Monday extending last week's decline and closed below key support crossing to confirm that a short-term top has been posted. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above last Wednesday's high crossing would confirm that a short-term low has been posted.