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Dollar trading in a limbo

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    On Friday, the dollar held a sideways trading pattern. Modest profit taking on the recent risk-on rally was a slightly negative for the US currency. In the afternoon, it was counterbalanced by a higher than expected US CPI. EUR/USD tested the 1.1060/70 area, but the test was again rejected. The pair closed the session at 1.1130 (from 1.1107 on Thursday). USD/JPY closed the session also in the red at 112.63 (from 113.24) even as US equities reversed earlier losses. This morning, Asian markets

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