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Pullbacks look contained in the 1.0990/80 band

  • EUR/USD comes back above 1.10 after dropping to YTD at 1.0992.
  • The next support of relevance is located around 1.0980.

EUR/USD is navigating the 1.10 neighbourhood, so far managing to rebound from Wednesday’s yearly lows in the 1.0990 region.

A sustainable breach of the 1.10 mark is needed to intensify the sell-off to, initially, the November’s low at 1.0981. Further south emerge September’s lows in the 1.0930/20 band.

The negative view in the spot should remain unchanged below the 55-day SMA, today at 1.1089.

EUR/USD daily chart

 

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