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EUR/USD bounces off to 1.2920

FXstreet.com (Barcelona) - The single currency is paring initial losses on Monday, climbing to the area of 1.2920/25 after bottoming in the vicinity of 1.2880.

Markets are returning to the normal activity on Tuesday following yesterday’s holidays in the UK and the US. The euro calendar will bring a measure of the French Consumer Confidence while the Italian auctions of 5-y and 10-y bonds will be in the limelight. Across the pond, the most relevant event will be the US Consumer Confidence during May.

As of writing, the pair is losing 0.05% at 1.2923 with the next support at 1.2904 (low May 24) followed by 1.2897 (MA10d) and finally 1.2821 (low May 23). On the upside, a breakout of 1.2994 (high May 24) would then target 1.2998 (high May 22) en route to 1.3030 (high May 14).

USD/JPY offered at 102 figure

The USD/JPY is last at 101.91, off recent session and weekly highs at 102.04, bouncing from NY session lows at 100.80, up +0.74% for the session and week. According to IFR Markets, Japanese importers and short covering have been behind the move higher.
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