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EUR/USD ticking up with slight correction

FXStreet (Barcelona) - EUR/USD is trading at 1.2712, up 0.17% on the day, having posted a daily high at 1.2717 and low at 1.2680.

EUR/USD is ticking up through the 1.27 handle and has done so with ease while attempting to correct some of the bearish trend from European and US trading. Overnight, Draghi was speaking at the IMF/World Bank meetings in Washington DC saying, “We are ready to alter size and/or composition of unconventional interventions as required“. Also, there were a number of Fed speakers but there was little impact when Williams suggested that we will see a hike in the middle of 2015 while the dollar is likely to come off somewhat. Then we had Bullard playing down rate rises and suggesting the market is getting ahead of itself.

EUR/USD noteworthy levels

With spot trading at 1.2713, we can see next resistance ahead at 1.2716 (Daily Classic PP), 1.2734, 1.2764 (Daily 20 SMA) and 1.2767 (Daily Classic R1). Support below can be found at 1.2705 (Hourly 20 EMA), 1.2691, 1.2680, 1.2664 and 1.2655 (Weekly Classic R1).

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