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Forex pairs in this Article » EUR/USD (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that the EUR/USD continues to slide after US GDP readings posted 3.2% as expected, but weighted by a quite negative German CPI reading, down to -0.6% and putting the EU one step closer to deflation.

Key Quotes

“The hourly hart shows a strong downward momentum, with indicators entering oversold territory, while 20 SMA gains bearish slope well above current price.”

“In the 4 hours chart technical readings also present a strong bearish tone, with a break below 1.3550 exposing the pair to a test of the 1.3500 area.”

“Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3590 1.3630 1.3675.”
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