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EUR/USD stumbles and stalls above 1.07 again

Earlier this morning the slight stalling in the price action of the USD/JPY allowed the EUR/USD to squeeze a little higher. The Euro managed to reclaim the 1.0700 handle, but in truth the move lacked pace and traction and besides it barely made it above 1.07 anyway. The high seen was at 1.0701. It has since fallen back once more and just now set a fresh session low at 1.0674. The drop in the EUR/USD has allowed the dollar index to make fresh headway and now it is lifted to session highs, as it tests that 50 day moving average. Of course the USD/JPY still holds the key to further price action and the current EUR/USD range remains intact. It is entirely possible that we will have to suffer more of the same until that US inflation data arrives, unless something important arrives before then. The EUR/USD is just now trading at 1.0677 
 

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