30 November 2017, 18:23  EUR/USD up on USD-selling

An unexpected bout of USD selling pressure is now lifting EUR/USD above the 1.1900 handle, charting an outside day and fresh 2-day tops at the same time. Spot gathered unusual upside traction after the US Dollar Index (DXY) plummeted to the 92.80 area all of the sudden and without any catalyst on sight other than the story by The New York Times. In fact, the NYT reported that the White House could replace current Secretary of State R.Tillerson with M.Pompeo, who in turn will be replaced by Senator T.Cotton at the helm of the CIA. In the meantime, yields of the key US 10-year reference remains sidelined in the upper end of the recent range just below the critical 2.40% handle. At the moment, the pair is gaining 0.57% at 1.1914 and a breakout of 1.1961, would target 1.2033 (high Sep.20) en route to 1.2069. On the other hand, the immediate support aligns at 1.1810, followed by 1.1774 and finally 1.1713.

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