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EURUSD approaching resistance, potential big drop coming up!

Price is approaching our first resistance which comprises of a horizontal overlap resistance, 78.6% fiboancci retracement where we are expecting a drop below this level to our first support level at 1.11018 which is also a horizontal pullback support level in line with the 23.6% fibonacci retracement and 100% fibonacci extension.

The material has been provided by InstaForex Company - www.instaforex.com