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EUR/USD gains thwarted by risk aversion

As already mentioned here a few times, the risk aversion that hit the markets last night helped the dollar and the Yen. Prior to that the EUR/USD had taken advantage of the recent dollar weakness. However, it had run into resistance at 1.0876 beforehand anyway. The Euro topped out right on its 100 day moving average. The subsequent news concerning Iran sent it lower and it fell back into the US close, where it later ended that session at 1.0837. It has not rebounded yet today either and for the same reasons that sent it lower last night. The low seen so far today has been set at 1.0823. The close last night was just above the 200 day moving average (now at 1.0833) and it remains to be seen if that will be the same this evening. The clear risk right now, is that it will not, but of course, the US jobs report might yet have a major say in that later today. The EUR/USD is currently trading at 1.0826

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