Short covering by some investors, EUR/USD slightly higher

On Thursday (November 24), the euro/dollar climbed slightly in the afternoon session of Asian cities. Currently, it is trading around 1.3378. The exchange rate is still below the 20-day moving average and short-term indicators are still bearish.

A Tokyo-based trader said on Thursday that the euro/dollar climbed gradually due to short covering by some investors.

He said: "There is no important news in the market, and the euro should only be readjusted."

He pointed out that the EUR/USD resistance is located at 1.3450.

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