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Forex pairs in this Article » EUR/USD
FXstreet.com (Edinburgh) - The EUR/USD is meandering around the middle of today’s range near the key 1.3600 handle, retracing the earlier bull run to the boundaries of 1.3620 and ahead of key German inflation figures.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current upside would be corrective, adding, “A close below 1.3450 will target initially 1.3177, which is in close proximity to the 61.8% retracement at 1.3166… Above 1.3650, will allow for another run up to 1.3750, 1.3833 which is expected to provoke failure”.

“Look for initial support on dips around the 55-day MA (1.3548) while key resistance is expected on approach of 1.3600 ahead of the EZ inflation number tomorrow”, noted Emmanuel Ng, Analyst at OCBC Bank.
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