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Can EUR/USD hold the break this time?

Yesterday, as covered here at the time, the EUR/USD did push slightly above its 200 day moving average and that move above 1.0869 extended to a high at 1.0888. However, owing to the slide in the GBP/USD into the 4pm London fix, the EUR/USD fell back to below 1.0850 at the same time. That was despite the slide in the EUR/GBP. The EUR/USD did later rebound into the US close though and ended the month at 1.0884, which was of course a daily and monthly close above the 200 day moving average, which is in place today at 1.0870. The price action so far this morning has seen that level cap the downside too. The low right now is set at 1.0871 and the earlier high was set at 1.0889. So, as you can see, 1.0870 seems to be providing support. The US monthly jobs report and ISM manufacturing reports this afternoon will be important in terms of whether or not the Euro can hold that technically positive close again ahead of the weekend. The EUR/USD is currently trading at 1.0873
 

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