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Euro Rangebound But Pressure Persists

posted by Avatar fx360 733 days ago in USD, EUR, Daily

A mild risk rally in Asian session spurred by a 3% gain in the Shanghai index quickly evaporated by the time European dealing began with EUR/USD falling through short term support at 1.2450 by mid morning trade. Risk FX rallied into the Asian close as Chinese stocks rose on speculation that the PBOC will no longer maintain a tightening posture
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