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EUR/USD Makes Bullish Break of Pennant

EUR
  • Modest move higher in EUR/USD puts the pair toward the Monday high at 1.1019 - with price action favoured by USD weakness and general risk-on following the European cash open.
  • The move sees EUR/USD post a bullish break out of the pennant pattern formed across the first few weeks of August - a theme that would strengthen on a break of resistance at 1.1042.

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