Current Price: 99.26
Rate continues to soften from highs the past 48 hours; traders note that stops under the market helped drive into the lows today but bids as expected at the 98.80 area. Upside is limited for now after the rate failed to build on the 101.00 trade earlier in the week. More likely the rate will consolidate with a lower bias near-term. Tomorrowsâ€™ GDP data likely factored-in to prices already so unless a surprise is in the works expect the rate to fall briefly on Wednesday.
Analysis by: Forexpros.com written by Jason Alan Jankovsky
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