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Greenback Heads Through London Close at Session Highs

USD
  • Greenback gains continue apace into the London close, prompting new pullback lows in EUR/USD, GBP/USD and session highs for USD/JPY.
  • This narrows the gap for EUR/USD with the weekly lows at 1.0782, and the next key intraday support in GBP/USD at 1.2563.
  • This keeps the USD Index on track to resume the primary uptrend posted off the mid-July lows, cementing the 200-dma as solid support as tested earlier this week.
  • 104.447 in the USD Index is the key level to watch: the late August high, and a break north of here would be fresh multi-month highs.

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