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Free AccessEUR/USD Would Extend Bull Cycle With Break of Overnight Highs
- Progress through the overnight highs of 1.0585 would put EUR/USD at the best levels since mid-June and extend the recovery off the post-NFP lows printed at 1.0429.
- Strength through 1.0585 ahead of the Monday close opens 1.0668, the 2.236 proj of the Sep 28 - Oct 4 - 13 price swing. 1.0615 also marks the High from Jun 27.
- Action in spot ahead of the NY crossover puts the pair within range of the largest option expiry due for today's 10am NY cut, with €1bln rolling off at $1.0570-75.
- US data and a speech from ECB's Wunsch take focus going forward, with Wunsch due to speak at 1600GMT/1100ET.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.