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EUR/USD takes a breather above 1.2650

FXStreet (Córdoba) - EUR/USD resumed the slide during the European session, falling to fresh 2-day lows, after the latest recovery attempt was capped by the 1.2715 area.

A touch of risk aversion, falling equities and disappointing Italian industrial output weighed on EUR/USD, which dropped more than 70 pips and touched a low of 1.2649 before recovering a tad. At time of writing, the pair is trading at the 1.2670 zone, 0.16% below its opening price.

Looking ahead, the economic calendar is pretty light for the rest of the day, with US import price index and Canadian unemployment rate scheduled.

EUR/USD technical levels

On the downside, EUR/USD could find immediate support at 1.2652 (10-day SMA) followed by 1.2622 (Oct 8 low) and 1.2600 (psychological level). On the upside, short-term resistances line up at 1.2790 (Oct 9 high), 1.2863 (Sept 24 high) and 1.2900 (psychological level/Sept 23 high).

Portugal Global Trade Balance rose from previous €-2.682B to €-2.61B in August

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