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Forex Flash: EUR/USD downside corrective, targets 1.3270/56 - Commerzbank

The EUR/USD is under downside corrective pressure, particularly after having reacted back to the 50% retracement of the move higher seen this year (this is located at 1.3355). “We target the 1.3270/56 zone near term, which we suspect will hold the initial test. This is the 16th Jan low and the 61.8% retracement, however there is potential for a slide back to the 1.3228 3 month support line”, wrote analyst Karen Jones.

“We suspect that this is part of a bigger turn, however key support remains the 1.3164 6 month uptrend and a close below here is required to negate the up move completely”, she added, pointing to resistance for intraday rallies at 1.3580/1.3600 and initial resistance at 1.3458.

Forex: EUR/USD eased further after French data

The bloc currency remained almost indifferent after the industrial production in France expanded 0.1%, bettering expectations of a 0.2% drop during December, albeit below November’s +0.5%....
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Forex: NZD/USD rebounds off session lows to 0.8331/32

The NSD/USD has started this week in a tailspin, as all attempts to regain the 0.8400 level were stonewalled, culminating in a move downwards that took the pair towards 0.8318 (session low) during European trading. In recent minutes however, the pair has rebounded slightly, recovering the mark of 0.8331/32 in these moments, down -0.39% today.
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