The USD is coming under increasing pressure. The US initial jobless claims came in weaker and that started the decline. For the EURUSD, it is moving above a technical area defined by a swing area between 1.0752 and 1.0756 (see chart above). The price is also running away from its 100-hour moving average at 1.07579. The high price has just reached 1.07796.The next key target area comes against the 50% midpoint of the move down from the March high. That level comes in at 1.07906. Just above that level is the 200-day moving average at 1.0792. Getting above those levels - and staying above - would shift the buyers more to the upside. On the unemployment date last week, the price did move above
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