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Forex: EUR/USD's recovery halts at 1.3035

After falling from 1.3075, the EUR/USD found support at the 1.3010 where the pair has started an attempt of recovery that has been capped at 1.3035. Currently the pair is trading at 1.3025, 0.15% below opening price.

As for technical indicators, the MACD, CCI and Momentum are bullish while the RSI and Stochastic is neutral in the 1-hour chart. The EUR/USD will face supports at 1.3000 ahead of 1.2980 (low Mar.11) and 1.2956 (Mar.8)

On the upside, a breakout of 1.3126 (MA100d) would open the door to 1.3135 (high Mar.8) and then 1.3163 (high Feb.28).

Session Recap: EUR/USD holds 1.3000; But dark clouds for the Pound

In a quiet session, the EUR/USD has been trading sideways as the pair failed to consolidate above the 1.3050 level and fell to the 1.3015. However, the pair remains above the 1.3000 key price. The picture is not as good for the Pound where a horrible data from the UK industrial sector prompted investors to start considering the likelihood of the British economy slipping back into recession.
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