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EUR/USD edging closer to a cluster of important technical levels
The drop below 1.0875 in the EUR/USD today has already been noted here and the one reason for that has been the rebound in the USD/JPY, back above 156, at the same time as the EUR/JPY has not advanced. In fact, it is still close to session lows and that has pushed the EUR/USD to below 1.0860 today. The EUR/USD has not been below 1.0860 since July 11. The low seen so far has been set at 1.0856. The fall today is taking the Euro close to the first support, at 1.0840 (38.2% of the move up from 1.0666 to the recent high at 1.0948). Beyond that we have a cluster of daily moving averages in place at 1.0814 (50 day) and 1.0816 (200 day). The 100 day moving average is currently at 1.0800. The EUR/USD is currently trading at 1.0859
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EUR/USD takes out 1.0800 again
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USD/JPY rises above 150 following very contrasting US PMI reports
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