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1.0700 still proving elusive for the EUR/USD so far today
The EUR/USD has had every opportunity to reclaim the 1.0700 handle today, but so far it has failed to rise above that level. The Euro topped out at 1.0699 earlier this morning just ahead of the European equity market opening and since then it has been drifting back, towards the earlier Asian low, at 1.0677. The rebound in the USD/JPY from its earlier lows is adding some selling pressure right now and the failure of the GBP/USD so hold a slight rise above its 50 and 100 day moving averages probably has not helped either. In the short term, it looks like a break either side of 1.0666 and 1.0700 could throw up a move, but maybe we might have to wait for the US economic releases later today to see that unfold? Meantime, the range is intact for the time being. The EUR/USD is currently trading at 1.0681
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