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EUR/USD short-term technicals remain bearish - Scotiabank

FXStreet (Córdoba) - Shaun Osborne, Chief FX Strategist, notes that EUR/USD short-term technicals remain bearish.

Key Quotes

“EUR/USD is reversing some of last week’s rebound from the 1.09 area and looks heavy on the intraday charts”.

“Loss of support in the low 1.10 area in Europe suggests downside risks are building again as momentum favours weakness across a range of timeframes”.

“Look to fade EUR gains to the 1.10 level near-term”.

DAX upside remains favored - FXStreet

The German DAX ended the day unchanged at 10,951.15, after starting the day with a negative tone. The index however, recovered ground amid EUR weakness, but failed to extend its rally amid the lack of local data to guide investors.
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