Euro grabs another bid in rise to session high

Author: Adam Button | Category: News

EUR/USD touches 1.1280

The euro has broken above intraday resistance to a high of 1.1282. That's narrowly above the European and earlier New York highs and is only a couple pips from the best levels of the week.

What jumps out to me on the 30 minute chart is the series of higher lows. That corresponds nicely to the non-stop commentary about buying euro dips from analysts. The things is, they all want to buy, but buy lower. What we're seeing is that buyers jumping on shallow dips because the big retracements never come.

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