There’s no relief for the euro – the currency is down for the 5th straight trading day against the dollar and the EURUSD has just broken 1.08, the level unseen since April 2017. The data flow remains unfavorable for the pair – European car sales data for January was weak while the NY Fed index rose to the highest level since May’19. EURUSD remain in a downward channel and the next horizontal support can be found at 1.05.
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