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Greenback Weakness Resumes Post 20-Yr Auction

USD
  • Following the US 20-year auction, selling pressure for the greenback has re-emerged which sees EURUSD briefly match the earlier highs and USDJPY dip to within a few pips off the intra-day lows of 148.10.
  • The pair has traded sharply lower Monday as the pair extends the pullback from 151.91, the Nov 13 high. Support at the 50-day exponential moving average, at 149.19, has been cleared.
  • The break of this EMA strengthens a short-term bearish theme and signals scope for a deeper correction, towards 147.43, the Oct 3 low.
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