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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY

November 28, 2022

Via: DailyFX

The US Dollar has opened the week with a support test.

While last week closed with the Thanksgiving holiday in the United States, the Greenback remained weak through the finish of last week’s trade. That weakness continued into this week with price trickling down to re-test the same low that was in-place two weeks ago. That’s when markets showed a knee-jerk reaction to a missile landing in Poland, with stocks pulling back and the US Dollar jumping from that prior low. But, cooler heads soon prevailed after that ordeal and equities quickly continued their ramp. In the US Dollar, however, the reversion back to weakness seemed to be a little slower. But, nonetheless, the relationship remains – the USD has already tested the low from that Tuesday while stocks still remain below those prior 11/15 swing-highs after they were tested last week.

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