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Risk Aversion in Play
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The theme at the current moment appears to be risk aversion with Italian yields up and European stocks down. The USD is trading on session highs against all of the majors.
The EUR/USD broke through the 100 hour moving average, 50.0% (which was the next target), and continued lower through the 61.8% fibo line. It seems that the next target is 1.37083; a level which has shown the pair support earlier this month.
