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EUR/USD printing fresh year lows

FXStreet (Bali) - The American dollar is building up on Wednesday's gains during Asia, as traders seem to like the last FOMC minutes, in which a more hawkish-than-expected outcome was observed, boosting the buck across the board.

EUR/USD hit a new low for the year at 1.3242 after closing the US at 1.3257, a day in which the value of the pair shred another 60 pips, which represented the largest daily loss since July 22, as the EUR/USD market gains momentum having recently unraveled a 2-3 weeks of range-bound consolidation.

Valeria Bednarik, Chief Analyst at FXStreet, remains bearish the pair, noting: "The hourly chart shows 20 SMA with a steady bearish slope right above current price, while indicators hold in negative territory, lacking directional strength at the time being not yet reflecting latest slide. In the 4 hours chart however, indicators are biased lower despite in oversold levels, supporting a continuation of the dominant bearish trend."

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