Forex: EUR/USD finds support at 1.3040 on NY
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EUR/USD
FXstreet.com (Barcelona) - As the market trades during the New York session, the EURUSD kept its price action mostly above the 1.3040 line (printing its low at 1.3037). The pair is currently drawing a slight bounce back to 1.3050.
The New York session isn't providing much thrill with its light economic calendar. So, investors may start pricing in expectations ahead of the ECB monetary policy announcement and China's trade data due tomorrow.
"The intraday outlook is negative below 1.3100 resistance area and I favor a slide towards 1.2997 low before reversal for one more test around 1.3175", wrote Deltastock.com analyst Stoyan Mihaylov.
The New York session isn't providing much thrill with its light economic calendar. So, investors may start pricing in expectations ahead of the ECB monetary policy announcement and China's trade data due tomorrow.
"The intraday outlook is negative below 1.3100 resistance area and I favor a slide towards 1.2997 low before reversal for one more test around 1.3175", wrote Deltastock.com analyst Stoyan Mihaylov.
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