Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
EURUSD today broke below the key support level 1.1200 – which has been steadily reversing the pair from the start of June.
The breakout of this support level should accelerate the active short-term impulse wave 3- which belongs to the impulse wave (3) from the end of last month.
EURUSD is expected to fall further and retest the next support level 1.1120 (low of the previous waves 3 and (1) from April and May).
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