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Single Currency Extends Bounce Into London Close

EUR

EUR/USD showing through the earlier intraday highs of 1.0175 just ahead of the London close as the USD Index fades further a few hours out from the cash equity open.

  • Next upside level crosses at 1.0191 - the Jul 8 high, ahead of the key 20-day EMA at 1.0270. For now, the trend direction in EURUSD remains down after the show below parity as well as 0.9965, the base of the bear channel last Thursday.
  • This strengthens the current bearish case and opens 0.9944, a Fibonacci projection. Clearance of this level would expose 0.9883.

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