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Forex Flash: EUR/USD to resume down move after failing at 1.3135 - Commerzbank

FXstreet.com (Barcelona) - The EUR/USD failed at its 55 day ma at 1.3135 but current indications maintain that the market will fail here (Elliott wave count and TD perfection set-up) and “we look for the resumption of the down move”, according to Commerzbank analysts. “We suspect loss of the 12th April low at 1.3036 should be enough to de-stabilize the chart near term. Intraday the market should then find initial support circa 1.2995/47 and the 200 day ma at 1.2913”, wrote analyst Karen Jones, pointing to key support at 1.2679/61 (61.8% Fibonacci retracement of the July- to-January rise and the November 2012 low). “Longer term we remain negative and target the 78.6% Fibonacci retracement at 1.2400 and then 1.2042, the 2012 low”, she added.

Forex: NZD/USD testing the 0.8500 level

The NZD/USD has been roiled Monday, unable to pare its stark losses incurred during Asian trading. In these moments, the pair is firmly entrenched in negative territory at 0.8496/98, suffering a loss of -0.84% off its opening.
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Forex: EUR/USD recovering ground, eyes on 1.3090

The bloc currency is gathering traction after the opening bell in Europe on Monday, climbing to the boundaries of 1.3090, as risk appetite seems to be back among traders....
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