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Fundamental Analysis
EURUSD
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[QUOTE="Terry_8, post: 185743, member: 65834"] EURUSD TRADES LOWER AMID RESURGENCE IN CORONAVIRUS CASES ACROSS EUROPE [ATTACH type="full"]16997[/ATTACH] EURUSD ticks lower in early Asian hours on Tuesday amid a second wave of coronavirus that shatters the prospect of a quick economic recovery. Spain and France are the worst-hit nations registering nearly 2,957 and 5,298 fresh coronavirus cases in the past 24 hours. Considering the latest rise in infection, Europe is planning tougher social distancing norms and further lockdown measures. As of now, the pair is trading at 1.1754 level, down by 0.12%. Coming on to the previous session, initially, EURUSD surged to the intraday high of 1.1871 level in response to the broad-based USD weakness. However, the pair was quick to revert from day’s high and succumbed to selling pressure amid resurgent coronavirus contagions across Europe. In addition to this, ECB’s president Lagarde stated that Eurozone’s recovery seems very uncertain and unclear at the moment. Subsequently, the pair skidded to day’s low of 1.1731 level to finally conclude the session at 1.1770 level with a loss of 0.56%. Moving ahead, investors can take cues from the Eurozone Consumer Confidence data, US Existing Home Sales report, and FED Chair Powell’s testimony for short term trading impetus SOURCE FXVIEW FB: [URL="http://www.facebook.com/fxviewdotcom/posts/219789282896779"]www.facebook.com/fxviewdotcom/posts/219789282896779[/URL] [/QUOTE]
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