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USD resumes advance - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points that the USD continues climbing on Tuesday with EUR/USD trading close to the daily low of 1.2639.

Key quotes

"US earnings from banks are being released, showing nice gains so far and giving bleeding stocks a breath: American indexes point for a mild positive opening after almost a week of steady declines."

"As for the EUR/USD, the pair suffered a strong setback after German confidence dropped to a 2 year low below zero according to latest ZEW survey, erasing most of Monday gains and holding near a daily low of 1.2639."

"The 1 hour chart shows price hovering around a flat 200 SMA with 20 and 100 ones well above current price."

"In the 4 hours chart indicators present a strong bearish tone, as per crossing their midlines to the downside, yet a break below 1.2620 Monday low is required to confirm further slides on the day."

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