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Forex: EUR/USD NY session fall reaches 1.3000

FXstreet.com (Barcelona) - US money flows pulled the EUR/USD from 1.3094 highs after the release of US jobless claims data and the continuing drop reached as low as 1.3001 after the New York opening.

German Chancellor Merkel comments, said that higher interest rates would be better for Germany. She wants that bank shareholders can also suffer losses in the future and said the government rejects common European deposit insurance, for now. Finland grand committee head said the Euro would survive in case Cyprus leaves and rejects euro-area fiscal transfers. IMF’s Lipton and PIMCO’s Amey suggested more ECB easing.

US initial jobless claims eased from 355K to 339K in the week ending at April 19, below the 351K consensus. Continuing claims also pleased investors with a drop from 3.093M to 3.000M, instead of coming in a 3.060M.

“We think, today the price may form another descending structure to reach the level of 1.2940 or even lower, 1.2880. Later, in our opinion, the pair may start forming a new ascending wave towards the target at 1.3200”, wrote Roboforex.com analyst Igor Sayadov added.

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