EUR/USD Bears Need 1.1650 Before the US Dollar Trade Looks Clean

The single currency has lost its grip on the 1.1700 handle and is now trading with a defensive tone heading into the most consequential 72-hour central-bank window of the second quarter. Last printed at 1.1695 in the European session, it hit a fresh two-week low after rejecting from an intraday peak of 1.1754, just shy of the 1.1769 horizontal barrier, and surrendered ground that buyers had clawed back during the recovery from the 1.1410 swing low set earlier in April.

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