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Taking its cue from the Risk Off tone

USD
  • EURUSD and Cable continues to drift lower, a function of the broader base buying of USD.
  • DXY is through session low, and EURUSD breaks below yesterday's low.
  • Next support for the pair is seen towards 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • Yesterday's low in Cable is at 1.2698 Low Apr 25.
  • A clear break through the latter opens to 1.2698 Low Apr 25.
  • As noted earlier, USDNOK is now testing that December high.

Chart source: MNI/Bloomberg

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