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EUR/USD given a boost by falling US dollar
The weakening of the US dollar has prompted a sharp rebound in EUR/USD, and the price is now testing the area above the Monday high of $1.138.
Further gains target the $1.147 area that was strong resistance earlier in the month. Some retracement of the sharp move higher might provide a fresh buying opportunity, but it needs a move back below $1.126 to suggest that a more bearish outlook prevails.