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Forex: EUR/USD in quick jump on US ISM New York

The US ISM New York index for February triggered an upside reaction in the EUR/USD, jumping 10 pips from the 1.3000 mark. The pair is still counting daily losses while below the week start price of 1.3018.

For the fourth month in a row, the ISM New York kept the expansionary pace. Rising from 56.7 to 58.8 in February. The Eurogroup meeting is also being eyed as Portugal and Ireland look to extend maturities of their bailouts.

"Monitor the test of the key support at 1.2998 (04/01/2013 low). An hourly resistance can be found at 1.3162 (28/02/2013 low)", wrote MIG Bank analyst Bijoy Kar, pointing to another support at 1.2877 (07/12/2012 low).

Forex Flash: USD/CAD at highest level in nine months - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the US dollar rose to CAD1.0340 early Friday, its highest level in nearly 9 months, but reversed lower and finished Friday on its lows.
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Forex Flash: Gilts break 34-week moving average – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Gilts broke the 34-week moving average, which capped the trend so far, has formed a pennant on a daily chart, suggesting there would be good chances of extending the rally to 118.37 onto 119.00. There might be a pullback to the 117.00/27 region, however it is likely to be a temporary one. After that more upside to 118.40 onto 119.00 would be likely. These are Fibonacci levels on a weekly continuation chart. The primary stipulation would be a sustained break below 116.54.”
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