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However, if the technical indicators turn out to be correct, and the Euro closes beneath the up-trend at 134.68, the near-term bullish scenario is likely to be invalidated. The key levels in this case will be a cluster of supports at 134 (weekly PP and Feb 6 low), the 200-hour SMA at 133.78, and the weekly S1 at 133, while the main demand area is at 132.30 (Feb 1 low).
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