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EUR in consolidation mode again

FXStreet (Łódź) - Independent Analyst Vladimir Mihaylov observes that the euro remains under pressure ahead of the release of EU ZEW data and the Fed monetary policy decision tomorrow.

Key quotes

"Possible support that will stop the downside is 1.2600 and the final one is around 1.2300 but I doubt we shall reach there soon."

"There was a large amount of unexpected bad EUR news and it seems the things over the Atlantic are getting a lot better."

"It is expected the FED to make another stimulus cut from 25 bln to 15 bln. This will push the EUR even lower till the end of this week."

"Today is expected the Gernamy's ZEW to be a lot worse too."

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