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EUR/USD below 1.0600 opens up 1.0480 – Kshitij Consultancy

FXStreet (Barcelona) - The Kshitij Consultancy Team maintains a near-term bearish outlook on EUR/USD, expecting a break below 1.0600 to pave way for multi-year lows at 1.0480.

Key Quotes

“Euro dropped sharply yesterday and seems to be under strong bear grip. A fall below 1.060 may take it lower to multi year low of 1.048 seen in March, 2015. The 1.0712 level mentioned yesterday is broken on the downside. Near term is bearish.”

GBP/JPY hit session low below 176.00

The British Pound was heavily offered after the data showed UK industrial production was weaker-than-expected in February. The pair hit a low of 175.90, before recovering slightly to 176.10.
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EUR/USD attacks 1.06

The shared currency was relentlessly sold-off versus the greenback in the mid-European session, knocking off EUR/USD closer to 1.06 barrier, largely on the back of renewed strength in the US dollar rising higher on yesterday’s better US data and FOMC minutes.
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