EUR/USD extended the New York range to the topside, pushing up to 1.2927 but the gains were quickly shed as prices slipped back into the 1.29-teens. A move back above the 1.2950/60 area is needed to take the immediate downside pressure off EUR/USD a prompt shorts to fear a double bottom is in place at 1.2868/78.
Central bank buying at today's low helped prompt the rebound that is extending into early afternoon as is a correction in the recent US yield rise. Bids are eyed at 1.2905 near-term. Offers are scattered from 1.2930 up through 1.2960 above which stops predominate.
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