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EUR/USD below 1.2900 ahead of US data

FXstreet.com (Barcelona) - The key resistance at 1.2900 is proving to be a tough barrier for the single currency on Thursday, capping any attempt of further upside so far.

“We look for EUR/USD gains to remain capped in the low 1.29 area for now. Major support remains at a very reachable 1.2786”, suggested Strategists G.Moore and S.Osborne at TD Securities. Ahead in the day, the weekly report on the US labour market is due, followed by the Markit manufacturing PMI and New Home Sales.

At the moment, the pair is up 0.21% at 1.2886 and a surpass of 1.3011 (MA21d) would aim for 1.3030 (high May 14) and then 1.3051 (high May 10).
On the flip side, support levels are located at 1.2809 (low May 20) followed by 1.2796 (low May 17) and finally 1.2754 (weekly cloud base).

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