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Greenback Fades Further Through London Close

USD
  • Modest USD weakness extending through the London close, most evident against EUR and GBP which continue to print new YTD highs.
  • EUR/USD has now tripped the bull trigger at the Dec15 high of 1.0735 and resumed the uptrend in the process. Candle patterns add to the recent bullish price action after Friday trade formed a bullish engulfing candle. Next upside level crosses at 1.0787, the May 30 high.

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