Euro surged to 1.1375 last week, to the highest since October 2015. It briefly traded above the 22 October high, the day when ECB president Draghi said that the bank will review its policy in December.

Prices above 1.13 were not sustained and the pair embarked on a pullback. It is currently about 200 pips below the high and the pullback doesn't seem to be over yet. 200 DMA is the first stronger resistance ahead of the broken 1.10 level.

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