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Forex pairs in this Article » EUR/USD (Edinburgh) - After hitting a 3-day high near 1.3580 overnight, the EUR/USD sparked a correction lower to the current area of 1.3555/50.

EUR/USD poised to range-bound

There are no relevant releases in the euro area today, with only the Spanish Trade Balance figures due later. Market participants would wait for tomorrow’s advanced manufacturing/services PMIs to have a better idea of the direction of the pair in the near term. Across the pond, a very light US docket (MBA Mortgage Applications due) would give way to the BoC interest rate decision as the main event.

EUR/USD key levels

At the moment the pair is flat at 1.3559 with the next resistance at 1.3600 (psychological level) followed by 1.3604 (Tenkan Sen line). On the downside, a break below 1.3508 (2014 low Jan.20) would expose 1.3490 (low Nov.25) and then 1.3463 (low Nov.22).
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