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Euro Bulls Emboldened as Currency Clears Multi Month Roadblocks
The euro is extending a rally that was little heralded at the beginning the year and now has analysts pondering what it will take to slow the best performing major currency this quarter. For chartists from JPMorgan toRBC, there are few resistance levels remaining before the euro lifts off in a sustained rally amid fading political risks and a monetary policy shift on the horizon. With the $1.13 post-U.S. election high giving way after five futile attempts this month, euro bears’ last lines of defense include $1.1428, a level reached on June 24, 2016 when the U.K. voted to leave the European Union, before the common ... (full story)
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