EUR-USD has settled in the mid-1.07s after recovering from the six-day low at 1.0659 that was seen yesterday. The 20-day moving average at 1.0772 marks resistance ahead of 1.0848 (Apr-17 high). Support comes in at 1.0717-20, which proved pivotal yesterday. Overall directional bias is quite flat, reflected by a levelling out in the 20-day moving average over the last few weeks, with the pair having oscillated between 1.0462 and 1.1052 since mid-March. USD-JPY has consolidated in the mid-to-upper 119s, remaining below yesterday's one-week high at 119.79.
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