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EUR/USD extends Trump news led gains to above 1.04
The impact of the news reported in the previous 3 updates has of course sent the dollar running for cover versus the Chinese Yuan and the Yen. However, the more pronounced moves in terms of the major currencies has been versus the Pound and the Euro. The EUR/USD has charged above all its recent highs and pushed to a new 2024 high above 1.04. In fact today is the first time the EUR/USD has traded above 1.04 since forming a double top on the day charts back at the beginning of January. So, that price area is now the next technical level of immediate note this afternoon. The EUR/USD peaked on January 6 at 1.0437 and then at 1.0434 on January 7. The high seen so far this afternoon has been set at 1.0405 and it is not much below that right now, currently trading at 1.0401
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