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EUR/USD trapped in 100-point range

The euro’s high at $1.3570 against the US dollar following the US Federal Reserve’s decision not to commence QE tapering continues to cap euro upside.

All trading involves risk. Losses can exceed deposits.

The EUR/USD pair is trapped in a 100-point range with $1.3460 finding bids so far today. Prior resistance at $1.3420 should become supportive and may provide a buy-on-the-bounce opportunity.

Any breaches of this level could bring about a return to last week’s $1.33 levels and the rising 50-day moving average.

EUR/USD (DFB) chart

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