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Dollar Bounceback Extends, EUR/USD Hits Session Lows

USD

With US participants returning after the three-day weekend, the greenback has wholly erased the day's earlier losses, bouncing smartly to rise against most others in G10.

The reversal of fortunes for the USD followed no headline catalyst or driver, but a better-than-expected Empire Manufacturing survey may have contributed to the recovery.

MNI Tech flags no material support for EUR/USD until below the 1.21 handle, with 1.2082, the Feb 12 low acting as the first level. A break through here would open 1.2020, but the bullish outlook remains in tact unless prices print below 1.1952, the bear trigger.

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