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 broke key support level 1.1960
• Likely to fall to support level 1.1800
EURUSD recently broke the key support level 1.1960 (which stopped the A-wave of the active ABC correction (2) in February).
The breakout of the support level 1.1960 coincided with the breakout of the 50% Fibonacci correction of the earlier upward impulse (1) from November.
EURUSD is likely to fall further toward the next support 1.1800 (target price for the completion of the active ABC correction (2)).
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