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EUR/USD breaks below the key 1.0700 support

EUR/USD retreats further and breaches the key support at 1.0700 the figure on Thursday. The underlying bearish sentiment remains unchanged and leaves the door open to extra pullbacks in the short-term horizon. Against that backdrop, the pair could now embark on a probable visit to the May low of 1.0635 (May 31) ahead of the March low of 1.0516 (March 15). In the meantime, further losses remain in the pipeline while below the key 200-day SMA, today at 1.0821.