EURUSD retreats from 1.10 following ISM

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The USD made a nice retracement against the EURO and other currencies today following a better than expected ISM Manufacturing PMI number which came in at 52.8 beating estimates of 51.9. Not only was it a strong number, but it was the first uptick we have had in this number since November 2014.

EURUSD made a retreat from 1.10 immediately following the announcement and stands poised to make a sustained break below the 1.09 level which could send it into a further downward spiral considering the Greece situation (which is a mess) and lack of significant USD news until Wednesday.

TotalView shows the USD firmly at the top of well bid currencies which is a good sign for USD Bulls.

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