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EUR/USD has close ties with 1.2740 area

FXStreet (Moscow) - EUR/USD opened at 1.2749, posted 1.2760 session high in Asia, before retreating to current 1.2743.

Game of contrast

The pair refreshed multi-month low yesterday on innocent Draghi comments on possible need of unconventional monetary tools. Nothing new was said, but the market reaction was impressive, and although the pair managed to rebound above 1.27, the way lower now will be easier. Scheduled for release tonight US GDP numbers may help with that on the game of contrast. If the market gets better than expected numbers, this may widen the gap between the euro zone, balancing on the brink of recession, and the USA, speeding the pace of recovery.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2744, with support below at 1.2703, 1.2657, and 1.2616, with resistance above at 1.2790, 1.2831 and 1.2877. Hourly Moving Averages are bearish, with the 200SMA at 1.2863 and the daily 20EMA bearish at 1.2945. Hourly RSI is bearish at 40.

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