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Lower continuation for the USD

  • Further traction lower for the USD, since the European cash open.
  • EURUSD is through another session, and has now gained 200 pips since the January low.
  • Momentum has picked up post the US inflation number, with selling interest going into the Dollar, and higher German yields have also been supportive.
  • ALL EYES will now be on the US February release for January.
  • Some market participants are also seeing some positives, with Europe so far avoiding any significant lockdowns.
  • EURUSD resistance moves down to 1.1464 initially

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