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EUR/USD recovers as dollar weakens

EUR/USD rebounded sharply yesterday from its lows as Jerome Powell’s testimony weakened the dollar. For now the buyers might have a chance to push the price back towards $1.188, and above this a more bullish view may prevail.

A failure to hold yesterday’s gains hands the initiative back to the sellers and brings $1.177 into view.

 

EUR/USD chartSource: ProRealTime

 

Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 15 July 2021. IG

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