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‘Pennant’ pattern break out on EUR/USD targets a move north of 1.3200

The EUR/USD finished sharply higher for a 2nd day in a row, climbing 104 pips to close at 1.3043 and taking out key resistance near the1.3000 level. It was a busy day of economic data from both Europe and the US, which seemed to act as the major catalyst to promote the sharply higher finish. It was a good day for “risk on” assets in general, with both equities and precious metals seeming to get a boost from the US Dollar weakness and finishing the day moderately higher.
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Session Recap: USD month end in Asia slightly higher in the back of soft Aussie

Slow end of the month session in the Asia-Pacific, with USD slightly advancing across the board mostly on the back of weaker commodity currencies such as Aussie and Kiwi, but just marginally given current Euro and Yen resilience. USD index has barely held above the 83.00 round level, while AUD/USD has remained capped below the 0.97 level, and EUR/USD below the 1.3050.
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