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EUR/USD hesitant at 1.2625, marginally higher on the day

FXStreet (Moscow)- EUR/USD retraced from Asian high at 1.2674 and dipped to the opening level around 1.2616 early in Europe as stops located above 1.2660 triggered the correction

Hesitant before ECB

Second tire macroeconomic data published early in Europe was mostly ignored as it is overshadowed by upcoming ECB meeting. Bundesbank President Jens Weidmann mentioned earlier that finds it necessary to change European bank supervision rules. While it is not that vital for EUR short-term dynamics, the idea might influence longer term perspectives of the single currency. EUR/USD is well supported at 1.2616 (Asia opening level) and might recover towards 1.2660, though sharp movements ahead of the key risk events are unlikely. Beware of volatility later during the day.

What are today’s key EUR/USD levels?

Today's central pivot point can be found at 1.2616, with support below at 1.2591, 1.2560, and 1.2635, with resistance above at 1.2647, 1.2672 and 1.2703. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2741 and the daily 20EMA bearish at 1.2849. Hourly RSI is bullish at 51.

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