EUR/USD extends gains ahead of European trading

EUR/USD D1 29-05
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Despite the softer undertone in the market, the dollar is struggling a little on the session – not as noticeable against risk currencies – as the breakout in EUR/USD extends further.

The pair has now touched the 1.1100 level for the first time since 30 March, in a move to fresh two-month highs following the more bullish breakout above the 200-day moving average (blue line) in trading yesterday.

From a technical perspective, there is little in the way of a move towards the late March highs @ 1.1147-63 from hereon. But for trading today, all eyes will be on US president Trump’s announcement on China that will follow later in US trading.

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