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EUR/USD holding the $1.0850 for now
After three days of losses EUR/USD has found some buying momentum, holding the $1.0850 area. However, for now this looks more like an opportunity to sell into strength, particularly if the pair fails to recover $1.09.
A reversal of the small overnight gains would indicate that the sellers are still in control, and that we can expect a push to the 200-day simple moving average (SMA) at $1.0828 and lower.