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EUR/USD unable to snap a technically negative close

Yesterday, as the EUR/USD rose during the European morning, it looked like it might manage to avoid another technically negative close below its 200 day moving average. The EUR/USD rose to 1.0864 then. However, that was then followed by a relapse that sent it back down to 1.0824 just after the 4pm London Fix. It was pretty clear; that there was a US dollar buying order set for that event. As the evening progressed, the Euro was unable to recover that fall and later closed in the US at 1.0831. That was once again below its 200 day moving average, then in place at 1.0838. That is still edging ever so slightly lower and in place this morning at 1.0837. At the same time, the noted interim double bottom is still in place at 1.0802. The range seen so far today has been covered by 1.0821 to 1.0833. The EUR/USD is right now trading at 1.0830
 

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