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Forex Flash: What does the EUR/USD have to offer? – Commerzbank and UBS

FXstreet.com (Barcelona) - The bloc currency is navigating almost unchanged around 1.3175/80 on Wednesday. The cross found strong buying support on Tuesday, after the poor results from the German ZEW Survey lifted the cross to the 1.3200 figure.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggests the cross “recovered most of the previous days losses and charted a new 6 week high. We look for the market to fail ahead of the 1.3225/50% retracement”. Jones also comments that pullback attempts should find support around 1.3027/22 ahead of 1.2922.

In addition, the Swiss bank UBS has now changed its outlook to bullish on the cross. G.Yu and G.Berry, Strategists at UBS, argue, “The pair faces a strong resistance at 1.3228, a breach of which would open 1.3342. Support is at 1.3022”.

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The NZD/USD has recovered off of overnight lows that had the pair trading in the depths of 0.8457. However, across European trading, the cross has eliminated its losses to return near opening levels at 0.8487/94.
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Forex Flash: USD and JPY sink as risk appetite revives - OCBC Bank

Emmanuel Ng of OCBC Bank notes that subsiding global jitters on Tuesday saw the majors rebounding against the greenback while USD/JPY also reclaimed the 97.00 handle and tested briefly above 98.00.
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