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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - The low volume market is pushing higher after the quick test of Friday's low area on the European opening. With a low printed at 1.3358, the EURUSD first rose back to 1.3380/90 resistance and now has regressed to the 1.3400 mark, up by +0.23% on the day.

Investors will be watching if the market makes clean break above the psychological level, which would possibly allow an extended rise today.

"We target the 1.3270/56 zone near term, which we suspect will hold the initial test. This is the 16th Jan low and the 61.8% retracement, however there is potential for a slide back to the 1.3228 3 month support line", wrote analyst Karen Jones.

UBS analysts are neutral: "The pair is under consolidation. The strong support is at 1.3270", wrote analyst Geoffrey Yu, pointing to resistance at 1.3472 ahead of 1.3564.
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