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EUR/USD decline halted near 1.0580

FXStreet (Edinburgh) - The selling pressure around EUR/USD seems to have found some support around the 1.0580 area on Wednesday.

EUR/USD vulnerable ahead of US data

Dovish comments from ECB officials have triggered a sharp sell off in the common currency during the morning in Europe, although buyers seems to have emegered around 1.0580, or fresh multi-month lows.

Next of relevance for the pair will be US Durable Goods Orders, followed by Personal Income/Spending and inflation figures gauged by the PCE.

EUR/USD levels to watch

As of writing the pair is losing 0.44% at 1.0598 with the next support at 1.0519 (low Apr.13) en route to 1.0456 (2015 low Mar.16). On the upside, a breakout of 1.0805 (23.6% Fibo of 1.1496-1.0591) would open the door to 1.0829 (high Nov.12) and finally 1.1058 (200-day sma).

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