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Forex: EUR/USD targets 1.3273, initial resistance at 1.3463 - Commerzbank

Commerzbank analysts have their eye on the 1.3273 3 month uptrend as the EUR/USD gets increasily under pressure: "The 1.3273/56 band is key support near term, this is the 16th Jan low, the 61.8% retracement and 3 month support line. This is likely to hold the initial test – however the risks have increased that we will see an eventual break down through here towards the more important 1.3202 7 month uptrend and a close below here is required to negate the up move completely", wrote analyst Karen Jones, pointing only to recovery above 1.3520 to neutralize the immediate outlook and potentially re-target the 1.3711 February high (not favoured). "Initial resistance is the accelerated downtrend at 1.3463", Jones added.

Forex: EUR/USD on negative ground ahead of EMU data

The EUR/USD made a steady retracement of losses back to its opening price, at 1.3351, but failed to hold up there, eventually falling down to as low as 1.3322 just ahead of the European opening. The pair is currently down by -0.23%, at 1.3332.
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Forex: GBP/USD in fresh lows around 1.5440/50

The sterling is intensifying its decline at the beginning of the trading week, testing levels last seen in July 2012 in the proximities of 1.5440/50...
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