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EUR/USD TREKS HIGHER AS US DATA UNDERWHELMS

llexaxo
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  • EUR/USD extends its recovery as mixed US data weighs on the US Dollar. 
  • The US Dollar may also now already have “a lot priced in” according to analysts at Commerzbank. 
  • The short-term trend could now be bullish on the 4-hour chart. 

EUR/USD sherpa-treks higher on Thursday, with a foothold now above 1.0700 as it continues its labored recovery from the 1.0601 April lows. Recent mixed US data has tarnished the image of the US economy, undermining the supremacy of the US Dollar (USD), whilst the Euro (EUR) holds firm on strong services-sector data. 


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