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EUR/USD Just Above Trendline Support

DOLLAR

Greenback gaining further in recent trade, helping boost the USD index to the best levels since Oct20. Weakness in EUR, NOK, and AUD in recent trade the main drivers of USD strength over the past 30 mins or so.


  • This morning's moves make the trendline support in EUR/USD particularly important on any further weakness at $1.1740 (drawn off the Sep28 low). The 50-day EMA has already given way, keeping the outlook weak.
  • All sectors in the Stoxx600 are in the red. Energy, financials and industrials are underperfomers (sectors down 2.7-3.5% apiece).

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