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Forex: EUR/USD rallies above 1.3500 after talks of G-20

After pressing higher during the European morning, the EUR/USD finally returned to the 1.3500, hitting several market orders that allowed a move to 1.3520. The same reasoning is applied for the quick plunge to 1.3480 that followed. The pair continues to surround the 1.3500 handle.

Ahead of the G-20 meeting, German officials are hoping that the other members back the G-20 statement given on Tuesday about the currency exchange debate, adding that Germany will continue pushing for structural reforms in the Eurozone and globally, and that there is need for more international financial market regulation.

The economic calendar will provide the release of US import and export prices, retail sales, business inventories and a 10-year note auction. US Treasury Secretary Nominee Lew will speak at 15:00 GMT.

“The recent break beyond 1.3429 resistance signals a bullish intraday bias, but while 1.3577 high is still intact, the downtrend from 1.3710 will remain focused on 1.3260 area”, wrote Deltastock.com analyst Stoyan Mihaylov, favoring a reversal below 1.3500, for a slide through the key intraday support at 1.3410, towards 1.3260.

Forex: EUR/JPY back above 126.00

The shared currency strengthened during the European session and resumed the upside versus the yen after sliding to a 2-day low of 124.75. EUR/JPY has risen nearly 180 pips within the last hours, piercing the 126.00 hurdle to hit a high of 126.54 in recent dealings.
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Forex: USD/CAD testing session highs, around 1.0040

The Canadian dollar is depreciating against the greenback on Wednesday, ahead of the US Retail Sales during January, expected to rise 0.1% from +0.5% in the previous month...
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