On Monday the single currency dropped below the 200-day MA after having broken down through the 5-month uptrend line. Technical analysts at Commerzbank believe that the pair EUR/USD is poised down to 1.2995 and 1.2795 on its way to 1.2640/1.2588.

According to the specialists, the advance of the single currency will be capped by 1.3352/1.3445 (middle November minimum and 23.6% Fibonacci retracement) and 1.3533.

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