Moody’s Concerns Have Risk Pairs Lower
Risk pairs have been under pressure since opening higher for the week, on reports that Moody’s rating agency is concerned that the UK and US could be moving closer to losing there AAA debt rating. Although we have heard this rhetoric before, the market continues to react to this headline. Looking at the daily chart below, we see the pair could find support at the former trendline resistance and move back up could be defended by the 38.2% retracement of the move in 2010.





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