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USD punching on key support with EURUSD focus
The last couple of sessions have shown that the US dollar seems far less dependent tactically on the “risk-on, risk-off” narrative, a refreshing change of pace, although it is still difficult to disentangle a weaker US dollar and reflationary and global growth recovery hopes, as a weaker USD is a prerequisite for a brightening outlook. Specifically, EURUSD bulls have to find encouragement in the pair’s ability to find a steady bid through the last couple of volatile sessions – and the same goes for AUDUSD bullish hopes on the lack of interest from that pair in reacting to equity market gyrations during the ... (full story)