Euro followed through on Friday's reversal of post-FOMC gains. After weak pullback, the pair fell 150 pips before bids at 1.1180 stalled it. Given momentum we've witnessed, it's quite possible that the pair will retest seven-month channel bottom (currently near 1.10).

Some resistance may be found at 1.1210 - 1.1220 (200 DMA, Wednesday's low, Yesterday afternoon high) and then in 1.1235 - 1.1265 band (Daily Pivot Point, 50's, Monthly Pivot Point, Friday's low). Support is seen at 1.1180 - 1.1190 (Weekly Support 1, Previous Day Low, Low Of Day) and then stronger between 1.1125 and 1.1150 (50's, 100 DMA, Daily Support 1, 50 DMA).

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