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EUR/USD starts the week on a quiet note

FXStreet (Córdoba) - With no much weekend news, EUR/USD started the session on a quiet note, just a few pips below its Friday’s close, as investors digest recent events.

Last week, disappointing US data and dovish comments from Fed hawk Bullard helped EUR/USD to post its second gain in a row although the pair failed to close above the 1.2800 level. At time of writing, EUR/USD is trading at 1.2750, virtually unchanged on the day.

Data-wise, it will be a heavy week in Asia and a light one in US. US will release September's consumer price index, which investors will be closely watching as the Fed remains data-dependant. Meanwhile, PMIs and confidence indicators are the main events in the Eurozone calendar.

EUR/USD levels to watch


In terms of technical levels, EUR/USD could find immediate resistances at 1.2845 (23.6% Fibo of 1.3992-1.2500), 1.2882 (Oct 15 high) and 1.2900 (psychological level). On the other hand, supports are seen at 1.2740 (100-hour SMA), 1.2710 (200-hour SMA) and 1.2700 (psychological level).

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