EURUSD Analysis.
EURUSD formed a short term cycle top at 1.5843 and dropped sharply to as low as 1.5440 level. Deeper decline is expected to test 1.5284 (May 8 low) support after consolidation. Initial resistance is at 1.5600 and key resistance is located at 1.5843, only break of the key resistance could signal reversal to down trend.
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