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EUR/USD CRASHES BELOW 1.1300

EUR/USD CRASHES BELOW 1.1300

Amid resurgent US dollar demand across the board, EUR/USD accelerated its bearish momentum, breaching the 1.1300 level for the first time since July 2020.

US Dollar Index (DXY) grinds higher around 95.90 during early Wednesday, after refreshing the highest levels since July 2020 the previous day affecting the EUR/USD par.

The greenback gauge’s latest halt at the multi-day top could be linked to the overbought RSI conditions and the buyers’ battle with the 50.0% Fibonacci retracement (Fibo.) of a broad downtrend from early 2017 to February 2018.

Urhobo Daily

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