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Greenback comeback – EUR/USD crashes

The US dollar is making its way back up, with significant rises across the board. This seems like a comeback after the greenback lost ground yesterday on weak consumer confidence and some sort of pricing in of the Fed hike. Well, a hike is still a hike and this is different from many other central banks. The trend is still bullish USD.

EUR/USD is 60 pips down from the highs, hitting support at 1.0630. Update: it is falling below this level. The next support line  is 1.0590, with 1.0530 following next.

There doesn’t seem to be a specific reason, but USD/JPY is also  gaining ground with smaller gains for the dollar against other currencies. Update: more currencies are suffering against the USD, but the euro is struggling more than others. More details  about the euro are coming in a separate article.

More:  EUR/USD On Course To Break 1.0490 – Morgan Stanley

EURUSD falls November 25 2015 euro dollar

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.