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Forex: EUR/USD testing session highs in 1.3035/40

FXstreet.com (Barcelona) - The euro is now attempting a rebound to session highs in the area of 1.3040/45, as risk appetite continues to linger.

Against the backdrop of the increasing market chat about a rate cut by the ECB next week, Strategist Derek Halpenny at BTMU argued “. The key question for the ECB is whether a rate cut will do much and in all likelihood other measures will also be required as the ECB attempts to fix the broken monetary policy mechanism. Euro stability will eventually give way, resulting in a more sustained slide in EUR/USD”.

EUR/USD is now advancing 0.18% at 1.3035 with the next hurdle at 1.3094 (high Apr.25) ahead of 1.3130 (high Apr.19) and then 1.3202 (high Apr.16).
On the downside, a breach of 1.2988 (low Apr.25) would the target 1.2954 (low Apr.24) en route to 1.2948 (MA200d).

Forex Flash: majors relinquished intra-day highs but ended up on dollar still - OCBC Bank

Emmanuel Ng of OCBC Bank notes that the majors relinquished intra-day highs but managed to end higher against the dollar on Thursday after slightly better than expected initial claims lent some marginal support to the greenback.
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