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Forex: EUR/USD in weekly highs above 1.2900

FXstreet.com (Barcelona) - The bloc currency is printing fresh weekly highs in the area of 1.2910/15 as risk appetite is swelling amongst investors. Curious day for the cross, as it dropped to new 2013 lows around 1.2740 on President Draghi’s comments, just to revert the trend soon after to the current region of 1.2925/30.

“For the ECB, inflation is decelerating and likely to fall further into next year. But with the policy rate being left unchanged, the real interest rate… is actually rising over time. So the ECB’s waiting is not neutral, it is hurting the economy”, argued Rich Kelly, FX Strategist at TD Securities.

At the moment, the cross is up 0.68% at 1.2936 with the next resistance at 1.3050 (high Mar.25).
On the flip side, a breakdown of 1.2730 (low Nov.19) would expose 1.2680 (61.85 of 1.2042-13711) and then 1.2662 (low Nov.13)

Forex Flash: Short EUR/USD under 1.3020 – Westpac

According to Global FX Strategist Sean Callow at Westpac, “We are short the EUR/USD at 1.3020. Key longer term moving averages around 1.2900 should stymie the topside but we are nevertheless inclined to tighten stops here (to 1.2950)” – EZ markets are proving resilient to both Italy’s political deadlock and the precedent set in Cyprus for higher levels of private sector risk ownership in the region’s banking system.
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Forex: GBP/USD bounces at 1.0385, back to 1.0440

After finding support at 1.0385, the AUD/USD bounced to break above the 1.0330 level and trade as high as 1.0440. Currently the pair is pricing at 1.0433, still 0.27% negative on the day.
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