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Forex Analysis: EUR/USD grew above 1.24 to the new highs

Forex Analysis: EUR/USD grew above 1.24 to the new highs

EUR/USD grew above 1.24 to the new highs

The Japanese yen grew up against the dollar. The news noted the money supply expansion in November – the M2 aggregate increased by 3.6% y/y vs. 3.2% y/y while M3 aggregate increased to 2.9% y/y after 2.6% y/y in October. The Japan stock market once again set the tone for trading – Nikkei has fallen by 0.7%. Once being under pressure, the dollar fell down to the support around 120.00-120.20. Now it was broken through and the dollar fell down to 119.05-119.25.

The support levels: 119.05-119.25, and the resistance levels: 120.20-120.40.

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