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EUR/USD regains 1.2470

FXStreet (Edinburgh) - The greenback is taking a breather now, allowing EUR/USD to recover the vicinity of 1.2470, closer to session peaks near 1.2480.

EUR/USD trims losses

The pair is now extending the bounce off session troughs around 1.2430 following a knee-jerk in the US dollar. Earlier on in the European morning, positive results from the German and French GDPs during the third quarter helped spot to recover ground lost, ahead of the final CPI results in the EMU for the month of October and the Q3 GDP figures (0.1% QoQ). Across the pond, US Retail Sales (0.2% exp.) and the Consumer Sentiment tracked by the Reuters/Michigan index (87.5 exp.) will take centre stage.

EUR/USD key levels

At the moment the pair is losing 0.09% at 1.2466 with the next support at 1.2419 (low Nov.12) ahead of 1.2394 (low Nov.11) and then 1.2358 (low Nov.7). On the flip side, a breakout of 1.2499 (high Nov.11) would expose 1.2509 (high Nov.10) and finally 1.2533 (high Nov.6).

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