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The euro is trading higher on Monday, largely thanks to the weaker US dollar.

The EURUSD is reversing losses after touching the 1.1700 support area.

The current pace of gains will see the common currency re-testing the 1.1800 level again.

Depending on whether this price area will act as resistance, price action could push even higher.

For the moment, the EURUSD remains consolidated within the 1.1800 and 1.1700 levels.

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