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EUR/USD Narrowing Gap With Key Support

EUR
  • EUR/USD extending back toward the session lows, narrowing the gap with key support at both the 1.1807 20-day EMA and the 1.1803 50-dma. A break through here would mark a further deterioration in the near-term outlook, opening 1.1735 initially (the Aug 27 low) as well as the bear trigger at 1.1664.
  • Outside of the Bank of Canada decision in just under 30 minutes' time, focus turns to a speech on the economic outlook from Fed's Williams - speaking at 1810BST/1310ET. Text is due to be released, with Q&A following. Williams will mark the first major FOMC member to comment since Friday's miss on NFP.

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