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EURUSD News

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Last Updated Date: 13 January 2022 @ 7:50 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was nursing losses and below key support levels on Thursday after U.S. inflation proved no hotter than expected in December and prompted investors to cut crowded long positions.

After a couple of months in a tight range, the dollar dropped 0.6% on the euro on Wednesday to $1.1453, its lowest since mid-November. There isn't major chart resistance to further losses until $1.1525. It held at $1.1443 in Asia.

It also fell 0.6% on the yen, dropping through support around 115 to hit 114.38 yen per dollar, a more than two-week low. It last bought 114.55 yen. (Reuters).
 

The market remains up trend and retains potential for a climb to 1.1480. A pop over Tuesday’s high is friendly. A close over 1.1487 is needed to signal for a strong bull wave to attack beyond the 1.1530. The stall against 1.1480 is prompting near term reactionary setbacks and hints for defensive trade today. Only a close under 1.1344 (SAR) highlights a short term topping turnover.

Resistance 2      1.1480
Resistance 1      1.1460
 

Support 1           1.1420
Support 2           1.1401


 
 
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