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Despite the flight to the dollar the EUR/USD holds 1.06 again

As covered here in reports yesterday, the EUR/USD did not in the end, threaten a technical correction level at 1.0709. It is also important to note that such a target was merely corrective and not dynamic in terms of direction. Well, as you know now, the Euro stalled at 1.0690 and was already falling back into the close, buoyed by Fed voter comments, even suggesting not ruling out a rate hike this year. So, the EUR/USD did not rebound into the US close, as suggested it would struggle to do anyway. The EUR/USD closed last night at 1.0643. Earlier this morning, the rush to the dollar saw it fall back further. The low seen was set at 1.0611. To be honest the surprise here, if there is one; is that the 1.06 handle remained intact given the news that emerged. So, it seem the downside in the Euro is still being guarded by that interim double bottom at 1.0602 and 1.0601. The dollar has since handed back some gains heading into the European equity market opening in a minute or two now. The EUR/USD is currently trading at 1.0644

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