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Forex pairs in this Article » EUR/USD (Edinburgh) - The EUR/USD continues to trade in the lower band of the weekly range near 1.3550/40, ahead of the key CPI release in the EMU.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Attention has reverted to the trendline at 1.3546 and also the 1.3485 55 month ma. These are now exposed and remain the near term break down points to the 1.3374 200 day ma and the 1.3295 November low and beyond”.

In addition, Senior Analyst Christin Tuxen at Danske Bank, argued, “we stress that our baseline EUR/USD remains unaltered: if we are right that EM unrest will not escalate to any significant extent, we see potential for relative interest rates to drive the cross lower as the ECB delivers a rate cut and as the Fed starts to focus gradually more on the rate hikes looming in 2015”.
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