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The US dollar gave up ground to its forex rivals despite stronger than expected data from the economy.
NZDUSD has been moving sideways for quite some time and is currently testing the top of its range on the 1-hour time frame.
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The US dollar suffered a sharp selloff after the release of the CPI and FOMC minutes since both seemed to show that a September rate hike might be pushed back further.
AUDJPY has been consolidating inside an ascending triangle for a while and is currently testing the bottom of the pattern.
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The US dollar had a mixed performance as it functioned as a counter currency in recent trading sessions.
EURJPY recently broke past the resistance at the 137.00 major psychological level then moved close to the 139.00 mark.
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The US dollar regained a bit of ground in yesterday’s trading sessions, despite weaker than expected data from the economy.
EURNZD recently surged past the resistance around the 1.6800 major psychological level then zoomed up to a high of 1.7100.
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The US dollar had a mixed performance on Friday, as traders reacted mostly to currency-specific data and booked profits ahead of the weekend
NZDUSD got rejected in its test of the descending triangle resistance and is now moving back to the bottom around the .6500 major psychological level.