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EUR/USD Plumbs New Daily Low into Friday London Close

EUR
  • EUR/USD trading at a fresh daily low into the London close, with the dollar taking the lead from yields and equity markets here. The move reinforces bearish conditions and confirms an extension of the current down cycle. The 1.0713 objective has been breached, signalling scope for an extension towards 1.0653 next, a Fibonacci retracement level.
  • US hours have seen a surge in volumes after a quieter European start - tipping cumulative EUR futures volumes ahead of average for this time of day. Total activity now sits ~15% ahead of average through to the second half of the US session.

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