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Forex: EUR/USD dips below 1.3100 on economic slow down fears

FXstreet.com (Barcelona) - EUR/USD is currently down to session lows at 1.3064 from previous weekly close Friday at 1.3112, on the back of a broad USD and Yen bid move. The pair is down -0.32% so far for the session, following a massive sell-of in Gold, Silver and Oil.

China data came in lower than expected with GDP at +7.7% vs +8%, rising fears of a global economic slow down, while all local share markets trade in the red, with Nikkei index down -1.49% and Hang-Seng -1.62%. Oil is also -1.62% down for the session so far, coupled with US futures at fresh session lows.

Immediate support to the downside for EUR/USD lies at recent session lows 1.3064, followed by Thursday's/Friday's lows at 1.3043/36, and Feb 26 lows at 1.3014. To the upside, closest resistance shows at Thursday's NY session lows 1.3083, followed by recent session highs at 1.3120, and Friday's highs at 1.3130.

Forex: USD/CAD catching a firm bid, trading up 43 pips at 1.0184

The USD/CAD is currently up 43 pips at 1.0184 during Asia trade. The majority of commodity currencies are weaker across the board after China GDP missed expectations earlier in the session. Economic data out of Canada in the coming session is light, but market participants should be aware of the BOC Rate Statement on April 17th at 13:00 GMT.
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Forex: EUR/JPY, stops below 127.70 tripped

EUR/JPY is extending to the downside quite aggressively, currently just hitting its previous trend high at 127.70 after a two hours of intense selling from 129.21 session high to now challenge a key structural junction on the trend.
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