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

December 17, 2021

Via: DailyFX
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The week is closing after a massive outlay of drivers and themes. And while volatility has remained in equities, the US Dollar remains in the same range that was in-play to start the week.

As I had discussed ahead of this week’s open, the question of whether or not the USD could punch up to a new high would likely be determined by counterparts from across the Atlantic. Major FX pairs of EUR/USD and GBP/USD had both run into significant spots of support on the chart. And while the ECB remained dovish EUR/USD has so far held above that major inflection point, and this is a big factor into USD price action as the Euro constitutes more than 57% of the DXY composition.

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