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On Wednesday, the US dollar fell against the euro, breaking run of three consecutive days of gains. The pair recorded a moderate decline on Thursday, erasing most of its gains from the previous day.
Thus the price remained at familiar territory for the third consecutive session, after failing to keep the daily progress.
Session peak was reached at 1. On yesterday session the EURUSD initially rose but found enough selling pressure near the last swing high to turn around and closed near the low of the day, however closed within previous day range, suggesting a week bearish momentum.
The pair still managed to close above the 10 and the day moving average that continues acting as a dynamic support. The key levels to watch are: day moving average at 1.
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Europe is fighting to push Euro lower and US is fighting to push Dollar lower,see saw. Another tight range trading today, Price failed to close under support levels and 1.
I don't think we will see major break this week. On Wednesday, the US dollar fell against the euro, breaking run of three consecutive days of gains.
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