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EUR/USD settles marginally above 1.2700

FXStreet (Barcelona) - EUR/USD settled at 1.2707 after having started the Asian session at 1.2673; the current Asian high is set at 1.2714

EUR/USD has had a positive start of the week. The single currency is supported across the board as the results of stress-tests of European banks turned out to be less scary than expected. Though it looks more like a relief rally that won’t last for long. Later during the day, investors would keep their eyes peeled for German IFO survey. It is forecasted that both expectations and current conditions estimates have worsened in October, though data in line with expectations can have a limited impact on EUR as it is mostly priced in. The nearest resistance level to watch is 1.2740, it is followed by 1.2800 with minor offers on approach.

What are today’s key EUR/USD levels? 

Today's central pivot point can be found at 1.2667, with support below at 1.2638, 1.2606 and 1.2577, with resistance above at 1.2699, 1.2728 and 1.2760. Hourly Moving Averages are bearish, with the 200SMA bearish at 1.2726 and the daily 20EMA bearish at 1.2731. Hourly RSI is bullish at 68.

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