EUR/USD Technical Analysis July 11, 2012

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EUR/USD fell for almost all of the session on Tuesday as concerns about European debts continue. Adding to the negative outlook for Europe was the Italian prime minister saying in an offhanded way during the session that he could not rule out Italy needing to seek bailout funds. This is the first time that it has been suggested by anybody of any importance that we could need money, and of course the markets freaked as a result.