Referendum

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EUR/USD teeters above critical support

The 1.0500 level has served as a major historical support area for EUR/USD within the past two years. Previously, the currency pair had not traded at these depths for more than a decade – since early 2003. While it was breached to the downside slightly and briefly in March of 2015, the 1.0500 level has been repeatedly tested and has held its ground several times since then. The last time the level was tested was only one week ago, when EUR/USD extended its recent plunge to approach 1.0500 before bouncing abruptly as the dollar made a modest pullback.

GBP/USD: Brussels bombing boosts Brexit butterflies

By now, you’ve no doubt heard about today’s horrifying events in Brussels, and we wanted to start by saying that our thoughts go out to the bombing victims and their families. Not surprisingly, today’s events have overshadowed the traditional day-to-day movements of the markets and are leading to a big risk-off move in global equities, as well as safe haven demand for assets like gold, as my colleague Fawad Razaqzada noted earlier.

Brexit bloodbath drives GBP/USD to 7-year lows

Mark you calendars for June 23rd! Beyond representing one of the first days of Summer in the Northern hemisphere, that’s the date scheduled for the long-awaited “Brexit” vote on whether the UK will remain part of the European Union.

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