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Forex: EUR/USD capped by 1.3080

FXstreet.com (Barcelona) - After dipping to session lows around 1.3030 overnight, the single currency managed to gather traction and climb to the area of 1.3080, where the upside faltered.

Ahead in the day, Italian trade balance figures are due, followed by a Spanish auction of 6m Letras, EMU’s consumer prices and the relevant German ZEW Survey. Market consensus expects Economic Sentiment to drop to 42.0 in April from 48.5.

As of writing, the cross is up 0.28% at 1.3075 with the next resistance at 1.3138 (high Apr.11) ahead of 1.3140 (MA55d) and then 1.3150 (MA100d).
On the flip side, a breakdown of 1.3036 (low Apr.12) would expose 1.3006 (low Apr.9) and finally 1.2980 (MA10d).

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