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EUR/USD holding gains so far today as Dollar remains under pressure

The latest German factory orders data has just been released (September). The markets were expecting a fall of 1.5%, after orders rose by 3.9% in August. However, that rise has been revised sharply lower, to just 1.9%. So, the better than expected rise in September of just 0.2% has actuality been totally negated. The EUR/USD has so far ignored that fact, but then again it often ignores the data anyway. The EUR/USD is still very much on the front foot this morning after reclaiming the 1.07 handle on Friday. The EUR/USD closed the week at 1.0731 and it is not far off that level right now, despite this data. The range seen so far today has been covered by 1.0722 to 1.0740. The next really big level for the EUR/USD is the 200 day moving average. That is still falling and in place today at 1.0806. The EUR/USD is just now trading at 1.0737

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