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EUR/USD slid from session highs to 1.2920 area

FXStreet (Moscow) - EUR/USD touched 1.2959 session high in Asia, before retreating to current 1.2920 area.

What does the business think?

The market is jittery before the key events of the week. Although the pair is more focused on the FOMC meeting outcome, and TLTRO auction results, the scheduled for release today ZEW data is still of interest. The market almost believed the German economy is slowing, pressured by internal and external factors. If business thinks the same, the Economic Sentiment index may go even lower nearing November, 2012 levels. If so, the euro may get under pressure again with initial target at 1.2908 support.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2941, with support below at 1.2908, 1.2876, and 1.2843, with resistance above at 1.2973, 1.3006 and 1.3038. Hourly Moving Averages are mixed, with the 200SMA bearish at 1.2952 and the daily 20EMA bearish at 1.3077. Hourly RSI is bearish at 46.

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