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US Dollar Index Off Two-Month Peaks; 200-Day SMA Eyed as Possible Support at 91.49
Down 2.4 percent MTD, June remains on the ropes. Reclaiming May’s gains and also chipping into April’s upside, EUR/USD is touching gloves with familiar support at $1.1857-1.1352. Upstream is focused on 2021 peaks at $1.2349; additional enthusiasm may welcome ascending resistance (prior support [$1.1641]). Based on trend studies, the primary uptrend has been underway since price broke the $1.1714 high (Aug 2015) in July 2017. Additionally, price breached major trendline resistance, taken from the high $1.6038, in July 2020. Daily timeframe: Technical framework unchanged from previous research. Europe’s single ... (full story)