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Better selling on the European open

  • USD sees downside continuation, a follow through from the Asian session.
  • Risk on, albeit just off their best level as Europe opens, and inflation seen as temporary helping.
  • USD test session low versus JPY, EUR, CNY, CAD, AUD, SEK, NOK, PHP, SGD, but well within past ranges.
  • Initial target in EURUSD is seen at Wednesday's high 1.1970, where we failed yesterday, and only managed a 1.1956 high

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