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EUR/USD presses on lower and lower

FXStreet (Barcelona) - EUR/USD is trading at 1.2724, down -0.59% on the day, having posted a daily high at 1.2841 and low at 1.2716.

Better data than expected data from China overnight (GDP/Industrial Production), and chatter mentioned that the ECB’s work to buy corporate bonds is "well under way" have seen European equities trade higher while bonds underperformed. The greenback rallied with yields on the increase, notably in the 10 years that popped up by 8 basis points, and EUR/USD fell with the rest of the major players in Europe to the mid point of the handle and has been offered as low as 1.2720 now in the US.

EUR/USD note worthy levels

Current price is 1.2725, with resistance ahead at 1.2731 (Yesterday's Low), 1.2733 (Hourly 200 SMA), 1.2748 (Daily Classic S1), 1.2756 (Weekly Classic PP) and 1.2762 (Daily 20 SMA). Next support to the downside can be found at 1.2716 (Daily Low), 1.2696 (Daily Classic S2), 1.2661 (Daily Classic S3), 1.2658 (Weekly Low) and 1.2626 (Weekly Classic S1).

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