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Yields and US Dollar drop ahead of NFP, AUD and NZD outperform, JPY traders watching the 150 level

From gomarkets.com

The USD sell off continued Thursday moving in lockstep with yields again ahead of today’s key non-farm payroll figure. Unemployment claims came inline and had a limited impact as it was yields driving action in the USD. DXY dropped to close at the lows of 106.32 from earlier highs of 106.86. So far this looks like a technical pullback from overbought levels, with a strong support at the lower trendline around 106.10 as traders turn to watch todays NFP figure. {chart} EUR was propped up once again by USD weakness, with EURUSD testing the key support at 1.05 several times before rallying to hit a high of 1.0558. ECB ... (full story)

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  • Category: Technical Analysis