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EUR/USD update (17th Sep 2012, 13:00)

The momentum has been with EUR/USD for some time now and the news flow last week did nothing to dampen the enthusiasm, but looking closely at the Bollinger bands this morning we could see the markets test this over the next hour or so.

This of course would not be the first time that EUR/USD has looked a little toppy and the bears could be sitting out there already nursing several burnt fingers.

With the Fed continuing down the path of QE once again, CAD & AUD have strengthened, both being economies that are strongly supported by commodities. One currency however that really hasn’t joined in, is the ZAR (South African Rand) – part of this has to be attributed to the globally perceived stability of both Canada and Australia in comparison to South Africa.

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EUR/USD update (17th Sep 2012, 13:00)

The momentum has been with EUR/USD for some time now and the news flow last week did nothing to dampen the enthusiasm, but looking closely at the Bollinger bands this morning we could see the markets test this over the next hour or so.

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