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EUR/USD Price Analysis: Bears are moving in and daily lows are vulnerable
EUR/USD is on the back foot. The US Dollar index climbed to a two-week high on Thursday after economic data showed the labour market remained solid. It's been a strong week of data for the US and was topped off with Weekly Initial Jobless claims that decreased 26,000 to a seasonally adjusted 239,000, the largest drop in 20 months and below the expectation of 265,000 by economists polled by Reuters. Federal Reserve's Chair Jerome Powell also indicated the central bank is likely to resume its rate hike path and this is weighing on the Euro as the following technical analysis illustrates with a focus on the 1.0850s: ... (full story)