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EUR/USD workings its way higher thru 1.2920/40 supply

FXstreet.com (Barcelona) - The Euro is developing a fresh leg higher at the Tokyo open, sending the rate, for a third consecutive day, higher than its previous day highs. Current price stands at 1.2934, session high, from 1.2902 open.

As for the next potential moves, "the pair will likely range in the 1.2840/1.2950 area ahead of the FED, while clarifications on QE status will decide the trend from then on" says Valeria Bednarik, chief analyst at FXstreet.com.

From a supply/demand standpoint, the rise allows buyers to penetrate further into a layer of supply at 1.2920-40, tested twice since produced last May 15 through European trading.

NZD/USD finding resistance below 0.8200

NZD/USD is last at 0.8170, about flat for the session being, and from previous Asia-Pacific open yesterday. In between though, the pair has moved in a wide range with lows at 0.8116 in early NY, and fresh weekly highs at 0.8213 by early London.
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