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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - Despite the weakening consumer confidence in November, from -25.7 to -26.9, services sentiment (from -12.1 to -11.9), industrial confidence (from -18.3 to -15.1), economic sentiment indicator (from 84.3 to 85.7) and business climate (from -1.61 to 1.91), they all have beaten consensus and improved.

Just ahead of the release, the EURUSD resumed its rally up to 1.2991 high, nine pips away from the 1.3000 mark. Profit taking didn't mess gains much as the pair remains close to its highs.

In Portugal, both consumer and business confidence worsened to -59.0 and -5.0 in November. The Greek annualized PPI softened from 5% to 4% in October.

"Unless key 1.3000 barrier is cleared, further corrective action cannot be ruled out, with 1.2900/1.2880 supports staying in near-term focus", wrote Windsor Brokers analyst Slobodan Drvenica.
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