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Forex: EUR/USD intensify the downside

FXstreet.com (Barcelona) - The bloc currency is accelerating its descent on Tuesday after the EMU manufacturing PMI dropped to 46.5, below the median and March’s reading at 46.8.

The euro gave away 100 pips in just an hour, from session highs on better-than-expected French PMI above 1.3080 to the current 2-week lows around 1.2980 on worrisome German and EMU PMI prints. These poor results add to the market chat regarding the likeliness of a rate cut by the ECB in its next monetary policy gathering.

As of writing, the pair is retreating 0.64% at 1.2982 with the next support at 1.2969 (MA21d) followed by 1.2963 (low Apr.8).
On the flip side, resistance levels align at 1.3130 (high Apr.19) followed by 1.3202 (high Apr.16) and finally 1.3229 (50% of Feb-Apr slide).

Forex: EUR/JPY recovers the mark of 128.24 after EMU PMI

The EUR/JPY collapsed on lackluster German and EMU PMI data during European trading Tuesday. The move comes on the heels of an upside attempt that was cut drastically short at the 129.16 level. After bottoming out at the 127.93 level (session low), the cross has recovered the mark of 128.24 in these moments.
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Forex: EUR/GBP bounces off lows to 0.8527/33

The EUR/GBP bounced off its intraday lows at 0.8518, incurred on the back end of German and EMU economic data Tuesday. With the publication of lackluster data, the cross fell sharply, though has now recovered the mark of 0.8527/33, still down -0.15% on the day.
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