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    EUR/USD climbs above 1.10 on US payrolls

    © Dukascopy Bank SA
    © Dukascopy Bank SA
    "We still see the dollar trending higher in the longer term."
    - Societe Generale (based on Reuters)

    Pair's Outlook
    Just before the weekend, EUR/USD rose considerably for a second day, following weaker than expected US employment data. The Euro surged above Dec-Apr down-trend and peaked at 1.1027, the highest level since Mar 26. On Monday, the pair is likely to be less volatile amid Easter holidays. Nevertheless, it can be influenced by any positive or negative impetus, as the closest resistance is located as far as 1.1094 and the nearest support lies at 1.0903.

    Traders' Sentiment
    Bullish opened positions at the SWFX market are accounting for 45% this morning, down two percentage points over the weekend. On the other hand, pending orders to buy the Euro against the US Dollar in 100-pip range from the spot surged to 55% today, up 13%.

    © Dukascopy Bank SA
    © Dukascopy Bank SA

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