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US Dollar Under Pressure, EURUSD Eyes Resistance

USD
  • Broad greenback weakness continues across markets as most G10 counterparts rise to their best levels of the day. The DXY is down 0.4% and approaching the 96.00 mark to the downside.
  • Outlier here is the Japanese Yen which largely represents the extended bid in cross-jpy as equities remain buoyed.
  • EURUSD rising 0.45% on the session to highs of 1.1342 and now eyes last week’s peak at 1.1360.
  • Key resistance, however, at 1.1383 is intact, Nov 30 high. A break of this hurdle is required to signal potential for a stronger recovery towards 1.1407 the 50-day EMA.

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